Cover: Nonoptimality of Planned Replacement in Intervals of Decreasing Failure Rate.

Nonoptimality of Planned Replacement in Intervals of Decreasing Failure Rate.

Published 1966

by Eric V. Denardo, Bennett L. Fox

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Intuition would suggest that it is not optimal to select a planned replacement age in an interval for which rate of failure is decreasing. Here a mathematical proof is given that corroborates that intuition both for the case where total discounted cost is to be minimized and the case in which average cost per unit time is the criterion. 5 pp.

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