Discounted costs for repairable units under hybrid warranty

Discounted costs for repairable units under hybrid warranty

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Article ID: iaor20081167
Country: Netherlands
Volume: 173
Issue: 2
Start Page Number: 887
End Page Number: 901
Publication Date: Feb 2006
Journal: Applied Mathematics and Computation
Authors: ,
Keywords: warranty
Abstract:

In the present investigation, we propose a hybrid warranty model for the renewing pro-rata warranty, in which the failure rate of units, cost of preventive maintenance and cost of replacement are assumed to be constant. The expected total discounted maintenance cost has been derived in explicit form for different life time distributions, viz. exponential, Rayleigh and Weibull distributions. We determine the optimal number and optimal period for preventive maintenance after the expiry of the warranty. Numerical illustrations are provided to check the validity of the analytical results.

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