Optimal Decision Procedures for Replacement Problems |
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combination of t's consider cost per unit CR₁ D₁ Density Function x(x dF(x dynamic programming equation existing equipment exponentially distributed ǝtj ǝtk failed equipment failure rate i.tk Inspection Policy investment process local maximum maintenance action maintenance and replacement maintenance cost MAPI method MAPI system maximum value ment module normally distributed number of replacements obsolescence operating and maintenance opportunity cost optimal combination optimal equipment age optimal inspection optimal policy optimal replacement policy piece of equipment Poisson process Preinreich's Probability Density Function problem for type profit maximization model random variable reliability function replace the equipment replacement cost replacement decisions replacement problem replacements in 0,t revenue function salvage value scheduled replacement Section standard normal table t₁ t₂ t₂+x tests for exponentiality tj+1 tk+1-tk tx+x type I equipment Weibull distribution year's operating advantage λσκ