Analysis of down times of jib cranes – a stochastic approach

In this paper a case study dealing with the maintenance problem of jib cranes is presented. A jib crane is viewed as a complex system whose performance is observed as a single realization over period of time. After pointing out limitations of existing stochastic models to analyze the observed realization a new family of bivariate stochastic processes is introduced. The data of jib crane are analyzed using new model and cross-validated using part of the data set. It is noted that the new family of stochastic processes is useful to analyze bivariate data where one of the variables is finitely valued and the other is nonnegative and continuous.