### Abstract

Original language | Undefined |
---|---|

Place of Publication | Enschede |

Publisher | University of Twente, Department of Applied Mathematics |

Publication status | Published - 2000 |

### Publication series

Name | |
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Publisher | Department of Applied Mathematics, University of Twente |

No. | 1518 |

ISSN (Print) | 0169-2690 |

### Keywords

- EWI-3338
- MSC-90B25
- IR-65706
- MSC-93E20

### Cite this

*Optimal strategies for a replacement model*. Enschede: University of Twente, Department of Applied Mathematics.

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*Optimal strategies for a replacement model*. University of Twente, Department of Applied Mathematics, Enschede.

**Optimal strategies for a replacement model.** / Bruns, P.B.

Research output: Book/Report › Report › Other research output

TY - BOOK

T1 - Optimal strategies for a replacement model

AU - Bruns, P.B.

N1 - Imported from MEMORANDA

PY - 2000

Y1 - 2000

N2 - We examine a replacement system with discrete-time Markovian deterioration and finite state space $\{0,\ldots,N\}$. State 0 stands for a new system, and the higher the state the worse the system; a system in state $N$ is considered to be in a {\it bad state}. We impose the condition that the fraction of replacements in state $N$ should not be larger than some fixed number. We prove that a generalized control limit policy maximizes the expected time between two successive replacements and we explain explicitly how to derive this optimal policy. Some numerical examples are given.

AB - We examine a replacement system with discrete-time Markovian deterioration and finite state space $\{0,\ldots,N\}$. State 0 stands for a new system, and the higher the state the worse the system; a system in state $N$ is considered to be in a {\it bad state}. We impose the condition that the fraction of replacements in state $N$ should not be larger than some fixed number. We prove that a generalized control limit policy maximizes the expected time between two successive replacements and we explain explicitly how to derive this optimal policy. Some numerical examples are given.

KW - EWI-3338

KW - MSC-90B25

KW - IR-65706

KW - MSC-93E20

M3 - Report

BT - Optimal strategies for a replacement model

PB - University of Twente, Department of Applied Mathematics

CY - Enschede

ER -