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A Bayesian Approach to Optimal Replacement Policy for a Repairable System with Warranty Period
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 Title & Authors
A Bayesian Approach to Optimal Replacement Policy for a Repairable System with Warranty Period
Jung, Gi-Mun; Han, Sung-Sil;
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 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;
 Language
English
 Cited by
1.
Bayesian Maintenance Policy for a Repairable System with Non-renewing Warranty,한성실;정기문;

Journal of the Korean Data and Information Science Society, 2002. vol.13. 1, pp.55-65
1.
Optimal Bayesian Maintenance Policies Following the Expiration of Combination Warranty, Safety and Reliability, 2002, 23, 1, 51  crossref(new windwow)
2.
Maintenance models in warranty: A literature review, European Journal of Operational Research, 2013, 229, 3, 561  crossref(new windwow)
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