• International Journal of Reliability and Applications
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• v.12 no.2
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• pp.131-143
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• 2011

In most of literatures of age replacement policy, the authors consider the case that a new item starts operating at time zero and is to be replaced by new one at time T. It is, however, often to purchase used items because of the limited budget. In this paper, we consider age replacement policy of a used item whose age is $t_0$. The mathematical formulas of the expected cost rate per unit time are derived for both infinite-horizon case and finite-horizon case. For each case, we show that the optimal replacement age exists and is finite and investigate the effect of the age of the used item.

• International Journal of Reliability and Applications
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• v.10 no.1
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• pp.33-42
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• 2009

In most of literatures of age replacement policy, the authors consider the case that a new item starts operating at time zero and is to be replaced by new one at time T. It is, however, often to purchase used items because of the limited budget. In this paper, we consider age replacement policy of a used item whose age is $t_0$. The mathematical formulas of the expected cost rate per unit time are derived for both infinite-horizon case and finite-horizon case. For each case, we show that the optimal replacement age exists and is finite and investigate the effect of the age of the used item.

• Journal of the military operations research society of Korea
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• v.18 no.1
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• pp.110-127
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• 1992

In the preventive replacement policies of system that the failure can be detected through only periodic inspection, there is a penalty cost associated with the lapsed time between system failure and its detection. The system under study is replaced if the system fails before $n^{th}$ inspection, otherwise, preventive replacement is performed at the $n^{th}$ inspection. The decision variables are the inspection interval and the period of preventive replacement. This study presents the optimal preventive replacement policy that minimizes the long-run expected cost per unit time.

• Journal of the Korea Society for Simulation
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• v.33 no.1
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• pp.27-34
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• 2024

This study aims to propose an optimal asset allocation that minimizes the risk of insufficient realized replacement rates compared to the OECD average replacement rate. To do this, we set the shortfall risk of replacement rates and calculates an asset allocation plan to minimize this risk based on the period of enrollment, the income level and additional contribution. We consider stocks and deposits as investment assets, using Monte Carlo simulation with a GBM model to generate return distributions for stocks. Our result show that, for individuals with a enrollment period of less than 30 years, participants should invest a minimum of 70-80% of their funds in risky assets to minimize the shortfall risk. However, the proportion of funds that need to be invested in risky assets declines significantly when participants contribute an additional premiums. This effect is particularly pronounced among low-income individuals. Therefore, to achieve OECD average replacement rates, the government needs to incentivize participants to invest more in risky assets, while also providing policies to encourage additional contributions, especially for the low-income population.

• The Journal of the Korea Contents Association
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• v.8 no.11
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• pp.57-64
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• 2008

The data grid computing provides geographically distributed storage resources to solve computational problems with large-scale data. Unlike cache replacement policies in virtual memory or web-caching replacement, an optimal file replacement policy for data grids is the one of the important problems by the fact that file size is very large. The traditional file replacement policies such as LRU(Least Recently Used), LCB-K(Least Cost Beneficial based on K), EBR(Economic-based cache replacement), LVCT(Least Value-based on Caching Time) have the problem that they have to predict requests or need additional resources to file replacement. To solve theses problems, this paper propose SBR-k(Sized-based replacement-k) that replaces files based on file size. The proposed policy considers file size to reduce the number of files corresponding to a requested file rather than forecasting the uncertain future for replacement. The results of the simulation show that hit ratio was similar when the cache size was small, but the proposed policy was superior to traditional policies when the cache size was large.

• Water for future
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• v.29 no.3
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• pp.197-205
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• 1996

Flow carrying capacity of water distribution systems is getting reduced by deterioration of pipes in the systems. The objective of this study is to develop a managerial decision-making model for the rehabilitation of water distribution systems with a minimum cost. The decisions made by the model also satisfy the requirements for the discharge and pressure at demanding nodes in the system. The replacement cost, pipe break repair cost, and pumping cost are considered in the economic evaluation of the decision along with the break ratio and interest ratio to determine the optimal replacement time for each pipe. Then, the hydraulic integrity of the water distribution system is checked for the decision by a pipe network simulator, KYPIPE, if the discharge and pressure requirements, the decision made for the optimal replacement time is revised until the requirements are satisfied. The model is applied to an existing water distribution system, the Metropolita Water Supply Project (1st Phase). The result shows that the decisions for the replacement time determined by the economix analysis are accepted as optimal and the hydraulic integrity of the system is in good condition.

• Journal of Chest Surgery
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• v.56 no.3
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• pp.204-205
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• 2023

• Safety and Health at Work
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• v.12 no.4
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• pp.439-444
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• 2021

Background: In a previous study, we estimated exposure prevalence and the number of workers exposed to carcinogens by industry in Korea. The present study aimed to evaluate the optimal exposure intensity indicators of airborne lead exposure by comparing to blood lead measurements for the future development of the carcinogen exposure intensity database. Methods: Data concerning airborne lead measurements and blood lead levels were collected from nationwide occupational exposure databases, compiled between 2015 and 2016. Summary statistics, including the arithmetic mean (AM), geometric mean (GM), and 95th percentile level (X95) were calculated by industry both for airborne lead and blood lead measurements. Since many measurements were below the limits of detection (LODs), the simple replacement with half of the LOD and maximum likelihood estimation (MLE) methods were used for statistical analysis. For examining the optimal exposure indicator of airborne lead exposure, blood lead levels were used as reference data for subsequent rank correlation analyses. Results: A total of 19,637 airborne lead measurements and 32,848 blood lead measurements were used. In general, simple replacement showed a higher correlation than MLE. The results showed that AM and X95 using simple replacement could be used as optimal exposure intensity indicators, while X95 showed better correlations than AM in industries with 20 or more measurements. Conclusion: Our results showed that AM or X95 could be potential candidates for exposure intensity indicators in the Korean carcinogen exposure database. Especially, X95 is an optimal indicator where there are enough measurements to compute X95 values.

• Journal of the military operations research society of Korea
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• v.29 no.2
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• pp.100-110
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• 2003

Equipment replacement policy may not be defined with certainty, because physical states of any technological system may not be determined with foresight. This paper presents Markov Decision Process(MDP) model for army equipment which is subject to the uncertainty of deterioration and ultimately to failure. The components of the MDP model is defined as follows: ⅰ) state is identified as the age of the equipment, ⅱ) actions are classified as 'keep' and 'replace', ⅲ) cost is defined as the expected cost per unit time associated with 'keep' and 'replace' actions, ⅳ) transition probability is derived from Weibull distribution. Using the MDP model, we can determine the optimal replacement policy for an army equipment replacement problem.

• Journal of Korean Society for Quality Management
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• v.18 no.2
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• pp.33-42
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• 1990

This paper proposes the maintenance model of multi-component system when the failure characteristics and types of components are considered. In this model, it is assumed that a system is composed of a critical component, a major component and a minor component. Also, failure types is classified into major failure and minor failure. If major failure occurs to critical component before system age replacement time, the system is renewed. If major failure does not occur until its age replacement time, preventive maintenance is performed at age replacement time T. Minimal repairs are carried out after each minor failure. Major component is minimal-repaired if any failure is discovered during operation. Minor component should be replaced as soon as any failure is found. This paper determines the optimal replacement time of the system which minimizes total maintenance cost. Numerical example illustrates these results.