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http://dx.doi.org/10.5351/CKSS.2002.9.1.021

A Bayesian Approach to Optimal Replacement Policy for a Repairable System with Warranty Period  

Jung, Gi-Mun (BK21 Education Center for Transports in Systems, Chosun University)
Han, Sung-Sil (BK21, Ewha Womans University)
Publication Information
Communications for Statistical Applications and Methods / v.9, no.1, 2002 , pp. 21-31 More about this Journal
Abstract
This paper considers a Bayesian approach to determine an optimal replacement policy for a repairable system with warranty period. The mathematical formula of the expected cost rate per unit time is obtained for two cases : RFRW(renewing free-replacement warranty) and RPRW(renewing pro-rata warranty). When the failure time is Weibull distribution with uncertain parameters, a Bayesian approach is established to formally express and update the uncertain parameters for determining an optimal replacement policy. Some numerical examples are presented for illustrative purpose.
Keywords
Bayesian approach; maintenance period; minimal repair; replacement policy; RFRW; RPRW; Weibull distribution;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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