| B. Fox. Age replacement with discounting. Operations Research, 14:535--537, 1966. |
....function v ff ( Delta) the details are left to the reader) Observe, if K( Delta) and or c p ( Delta) are not differentiable, the MCA approach of Berg [4, 5, 6] cannot be used. Special cases of the above model are discussed by Barlow and Proschan [3] Schaeffer [25] Cleroux and Hanscom [9] Fox [12], Berg and Epstein [7] and Ran and Rosenlund [23] If we also like to incorporate down times due to repairs we obtain that c i ; i 1, equals c i = T X i ) L i with L i the length of the ith down time and the random variables L i ; i 1 independent and identically distributed. In this case the ....
B. Fox. Age replacement with discounting. Operations Research, 14:535--537, 1966.
....costs can be written as C ff = R 1 0 ff t c(t) dF (t) 1 Gamma R 1 0 ff t dF (t) Gamma R 1 0 ff t c(t) dF (t) log(ff) R 1 0 ff t F (t) dt ; where F (t) 1 Gamma F (t) and 0 ff 1 is the discount factor. This result generalizes the work of Berg [1] and Fox [7] who studied age and block replacement policies with discounting. 4.4 Equivalent average costs To determine the relation between the notions of average and discounted costs, we construct a new infinite stream of identical costs with the same present discounted value as the discounted costs. This ....
Bennett Fox. Age replacement with discounting. Operations Research, 14:533--537, 1966.
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