Age Replacement Models with First, Last and Middle Policies  
Author Mingchih Chen

 
Co-Author(s) Xufeng Zhao; Toshio Nakagawa

 
Abstract This paper discusses a new maintenance policy that is called replacement middle. That is, when there are three replacement policies to be modeled, we may choose the most economical one by comparing the models of replacement rst, replacement last and replacement middle, which are modeled by the approaches of whichever occurs rst, whichever occurs last, and whichever occurs middle. The replacement middle policy is improved in two cases to nd that it would be always more economical that one replacement rst, last or middle. We obtain the expected cost rates, give analytical discussions and comparisons for their optimum policies.

 
Keywords Age replacement, random replacement, replacement rst, replacement last, reliability
   
    Article #:  RQD25-112
 
Proceedings of 25th ISSAT International Conference on Reliability & Quality in Design
August 1-3, 2019 - Las Vegas, NV, U.S.A.