| Article ID: | iaor19982107 |
| Country: | United Kingdom |
| Volume: | 34 |
| Issue: | 2 |
| Start Page Number: | 41 |
| End Page Number: | 42 |
| Publication Date: | Apr 1998 |
| Journal: | Mathematics Today |
| Authors: | Baker Rose |
In this paper the author examines the expected cost of operating a car with different types of tyres, depending on different annual mileage and assumed rates of inflation. A parallel is drawn with the costs of ‘Ordinary’ and ‘Longlife’ electric light bulbs, as both are examples of the development of optimal replacement policies.