A Replacement Policy for Fixed Limits of Repair Cost

고정수리비용(固定修理費用) 한도(限度)에서의 부품교환정책(部品交換政策)

This paper studies a new replacement policy in case that average repair cost rate increases linearly in proportion to time t. At the moment when the repair cost rate reaches or exceeds a fixed level, the component is replaced. This policy is compared with the economic lifetime policy. Advantages of this model according to the increment of replacement cost is shown in numerical example.