Two new replacement policies |
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| Authors: | Ebrahimi N |
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| Affiliation: | Dept. of Math., Northern Illinois Univ., DeKalb, IL; |
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| Abstract: | Two replacement policies that can be used in deciding whether one should replace or repair a system are investigated. The first is a local policy where a decision is made based on average lifetime per unit cost of repair. The second is a global policy. Mathematical properties of these policies are developed, and some examples show that the two policies can yield different decisions under the same circumstances |
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