Multivariate age replacement. (English) Zbl 0894.90066
Summary: Age replacement policy is commonly used in order to reduce the number of in-service failures. We define a multivariate version of this policy and develop some of its desirable properties. We also obtain an optimal age replacement policy.
MSC:
| 90B25 | Reliability, availability, maintenance, inspection in operations research |
| 60K10 | Applications of renewal theory (reliability, demand theory, etc.) |
| 62N05 | Reliability and life testing |
