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Cost Analysis on Warranty Policies Using Freund`s Bivariate Exponential Distribution
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 Title & Authors
Cost Analysis on Warranty Policies Using Freund`s Bivariate Exponential Distribution
Park, Minjae; Kim, Jae-Young;
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 Abstract
Purpose: In this paper, the minimal repair-replacement warranty policy is used to carry out a warranty cost analysis with warranty servicing times and failure times that are statistically correlated to bivariate distributions. Methods: Based on the developed approach by Park and Pham (2012a), we investigate the property of the Freund`s bivariate exponential distribution and obtain the number of warranty services using the field data to conduct the warranty cost analysis. Results: Maximum likelihood estimates are presented to estimate the parameters and the warranty model is investigated using a Freund`s bivariate exponential distribution. A numerical example is discussed to deal with the applicability of the developed approach in the paper. Conclusion: A novel approach of analyzing the warranty cost is proposed for a product in which failure times and warranty servicing times are used simultaneously to investigate the eligibility of a warranty claim.
 Keywords
Bivariate Distributions;Field Data;Maximum Likelihood Estimation;Replacement Service;Warranty Service;
 Language
English
 Cited by
1.
A Review and Comparison between Quality Policy and Quality Strategy, Journal of the Korean society for quality management, 2015, 43, 3, 313  crossref(new windwow)
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