Three maintenances for age replacement policies

Abstract

Preventive replacement policy conducted at a routine time T* has been surveyed extensively in literatures. Another two random replacement times Y1 and Y2 are jointly considered in this paper. We formulate the models of replacement first, replacement last and replacement middle, which are based on the respective assumptions of whichever occurs first, whichever occurs last and whichever occurs middle. Further, we modify replacement first and replacement last by using whichever occurs first and last jointly. Comparisons among these replacement models are made to find which policy is more economical than the other.