• 한국경영과학회:학술대회논문집
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• 한국경영과학회 1996년도 추계학술대회발표논문집; 고려대학교, 서울; 26 Oct. 1996
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• pp.103-112
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• 1996

Optimal pricing research in general has been focused on profit maximizing strategy under the given product life-time T. Here we have tried to study the effect of uncertain product life-time on dynamic optimal pricing strategy. In reality, the life-time of product is more likely to be uncertain and not known as well. In terms of approximating the model to the concerned reality, so-called model validity, it seems to be more desirable to consider the uncertainty of product life-time into the optimal pricing strategy model, For this purpose, we tried two different approaches. One is to consider diverse product life-time probability functions under fixed life-time T. In this case, we might have the same product life-time as the previous study, but the process could be different in the expectation of product's discontinuity. The other is that life-time itself is not determined and thus it is the situation in which we can only decide optimal price on incremental basis. The former is the situation in which although we got some strong guess on life-time of a certain product, the pattern of expected life-time probability could be different. The question is what could be optimal pricing strategies on such different product life-time situations. But since in the latter, we don't assume any idea on the life-time of product. proper optimal pricing could be derived only from the past prices and diffusion information. While the latter seems to be safer in the aspect of model assumption, the former could be more realistic because we might have more or less a prior knowledge on the product life-time itself.

• 한국군사과학기술학회지
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• 제3권1호
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• pp.26-37
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• 2000

This research paper deals with the problem of determining the optimal life time in terms of economical sense for a self-propelled artillery. Equivalent Annual Cost Method(EACM) is used to evaluate the optimal life time, based on the acquisition cost, and the operation and maintenance cost. It is assumed that the operation and maintenance cost includes the costs for spare parts, petroleum and ammunition for training. From the result of this study, the optimal life time for a self-propelled artillery is between 13.9 years and 16.1 years with 95% confidence interval.

• 품질경영학회지
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• 제24권4호
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• pp.14-28
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• 1996

We consider optimal designs of partially accelerated life testing which is deviced for parallel systems with the considerably long life time. In partially step-stress life testing, test items are first run simultaneously at use condition for a specified time, and the surviving items are then run at accelerated condition until a predetermined censoring time. In partially constant-stress life testing, test items are run at either use or accelerated condition only until a specified censoring time. The optimal criterion for each test is to minimize either the generalized asymptotic variance of maximum likelihood(ML) estimators of the hazard rates at use condition and the acceleration factors or the asymptotic variance of the ML estimators of the acceleration factors.

• 대한산업공학회지
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• 제20권2호
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• pp.3-17
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• 1994

This paper presents an EMQ model which determines an optimal manufacturing lot size in an unreliable machine. The machine has an exponentially distributed life time, and requires a constant time to repair when it fails. We 1) derive an average cost function, 2) obtain an optimal lot size and show that it is unique, 3) carry out sensitivity analysis to examine the effect of machine parameters (life time, time to repair) to optimal lot size.

• 산업경영시스템학회지
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• 제19권40호
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• pp.179-186
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• 1996

Previous researches on optimum ALT plans have shown how to find optimum allocation, lowest stress and sample size subject to minimizing the variance of mean life estimate. Those researches have assumed the censoring time constant. But under certain circumstances such assumptions may not be reasonable. In this paper the constraint on constant censoring time is relaxed, and censoring time is considered variable. If all other test parameters remain unvaried, the variance of the mean life estimate reciprocally increases of the censoring time. This idea in this paper extends to the optimum censoring time. Thus, this paper presents the optimal censoring time in such situations, and finds the optimal lowest stress and allocation based on that optimal censoring time.

• 한국CDE학회논문집
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• 제19권1호
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• pp.12-18
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• 2014

Shot-peening is frequently used on various mechanical parts because it can improve the fatigue life of components by generating compressive residual stresses on the surface. This can be done by repeatedly hitting the work-piece surface with small balls and making indentations on it. In fact, finding optimal peening time among various peening parameters is the most important. Under-peening can not improve the fatigue life sufficiently while over-peening causes cracks and reduces fatigue life in contrast. In general, optimal peening time is experimentally determined by measuring arc-height using Almen-strip in accordance with SAE J442 standard. To save the time and efforts spent in carrying out experiments to find optimal peening time, this paper presents a computer simulation algorithm for the estimation of surface coverage made by impeller type shot-peening machines (PMI-0608). Surface coverage is defined as the proportion of the work-piece surface that has been indented in a given time of shot-peening. An example (standard tensile test specimen) is presented to validate the proposed method.

• Journal of Electrical Engineering and Technology
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• 제12권4호
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• pp.1369-1375
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• 2017

This paper presents an optimal operation scheduling algorithm for a smart home with energy storage system, electric vehicle and distributed generation. The proposed algorithm provides the optimal charge and discharge schedule of the EV and the ESS. In minimizing the electricity costs of the smart home, it considers not only the cost of energy purchase from the grid but also the life cost of batteries. The life costs of batteries are calculated based on the relation between the depth of discharge and life time of battery. As the life time of battery depends on the charge and discharge pattern, optimal charge and discharge schedule should consider the life cost of batteries especially when there is more than one battery with different technical characteristics. The proposed algorithm can also be used for optimal selection of size and type of battery for a smart home.

• 산업공학
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• 제24권3호
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• pp.173-186
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• 2011

In this paper, we evaluate life annuity plans for Korean pre-retired single and married couple participating Korea National Pension (KNP) and find optimal life annuity strategy by using utility-based measurements called AEW (Annuity Equivalent Wealth). Specifically, we extend a previous study to obtain a detailed optimal combination of annuitizing age and wealth in terms of percentage of net wealth at the time of retirement. A nonlinear optimization model is formulated with the objective of maximizing utility on consumption and bequest, and the dynamic programming (DP) technique is used to solve this problem. We find that there exist consistent patterns in optimal combinations of annuitizing age and wealth. Also, for all cases the optimal combination is significantly better than several other combinations. The results indicate that using the optimal approach can be beneficial to practitioners in insurance industry and prospective purchasers of life annuity. We conclude the paper with some discussions and suggestions.

• 품질경영학회지
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• 제23권1호
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• pp.41-49
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• 1995

This paper suggests optimal accelerated constant stress life tests in Exponential distribution. The relationship between the log-mean life and the loaded stress is assumed to be linear. Optimal plans considering mean square errors of maximum likelihood estimators of the log mean life and test costs are obtained. We consider accelerated life tests with two stress levels, and as data types, failure censoring( type II) and time censoring(type I) data are used. We propose the procedure to obtain the optimal plans for each case. Some examples are also included.

• Journal of the Korean Statistical Society
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• 제11권2호
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• pp.77-87
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• 1982

The choice if constants that define a life testing procedure is considered in terms of the test termination time (censoring time) and the number of items to be tested subject to a given range of variance of the expected life time, where the failure time of life testing is exponentially distributed.