An extended opportunity-based age replacement policy
An Extended Opportunity-Based Age Replacement Policy
The present study proposes an extended opportunity-based age replacement policy where opportunities occur according to a Poisson process. When the age, of the system satisfies for a prespecified value , a corrective replacement is conducted if the objective system fails. In case satisfies for another prespecified value , we take an opportunity to preventively replace the system by a new one with probability , and do not take the opportunity with probability . At the moment reaches , a preventive...
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