Journal of the Korean Data and Information Science Society
- Volume 16 Issue 2
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- Pages.383-389
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- 2005
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- 1598-9402(pISSN)
Premium Rate of Insurance for Radiators
- Hong, Yeon-Woong (Dept. of Electronic Commerce and Industrial Engineering, Dongyang Univ.)
- Published : 2005.05.31
Abstract
In this paper, we propose the pure premium rate of reliability insurance policy for radiators under the assumption of Weibull physics of failure. We also describe the performance factors which have an effect on failure characteristics of radiators. The maximum likelihood estimates of scale and shape parameters for assumed distribution are obtained by using accelerated life test data of sample sizes 5 using MINITAB.
Keywords