Journal of Applied Reliability (한국신뢰성학회지:신뢰성응용연구)

The Korean Reliability Society (한국신뢰성학회)
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A Bayesian Approach to Replacement Policy with Extended Warranty

연장된 보증이 있는 교체정책에 대한 베이지안 접근

  • Jung, Ki Mun (Department of Informational Statistics, Kyungsung University)
  • 정기문 (경성대학교 정보통계학과)
  • Received : 2013.10.26
  • Accepted : 2013.12.13
  • Published : 2013.12.25
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Abstract

This paper reports a manner to use a Bayesian approach to derive the optimal replacement policy. In order to produce a system with minimal repair warranty, a replacement model with the extended warranty is considered. Within the warranty period, the failed system is minimally repaired by the manufacturer at no cost to the end-user. The failure time is assumed to follow a Weibull distribution with unknown parameters. The expected cost rate per unit time, from the end-user's viewpoints, is induced by the Bayesian approach, and the optimal replacement policy to minimize the cost rate is proposed. Finally, a numerical example illustrating to derive the optimal replacement policy based on the Bayesian approach is described.

Keywords

References

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