Optimum Life Test Plans in Presence of Type-I Hybrid Censoring for Products Sold under General Rebate Warranty
Chakrabarty Jimut Bahan (jimutb08fpm@iimk.ac.in.),
Shovan Chowdhury Shovan (shovanc@iimk.ac.in) and
Roy Soumya (soumya@iimk.ac.in)
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Chakrabarty Jimut Bahan: Indian Institute of Management Kozhikode
Shovan Chowdhury Shovan: Indian Institute of Management Kozhikode
Roy Soumya: Indian Institute of Management Kozhikode
No 280, Working papers from Indian Institute of Management Kozhikode
Abstract:
The selection of an appropriate life test plan is extremely important for any product as it not just improves quality of the product but also reduces testing costs. In this approach however, the choice of suitable costs plays an important role. In this paper, a decision model is developed to determine optimal life testing plan by minimizing the relevant costs involved for non-repairable products sold under general rebate warranty. The life testing plan is developed in presence of Type-I hybrid censoring for products having Weibull distributed lifetimes. A constrained optimization approach is followed considering both producer’s and consumer’s risk and suitable analysis techniques are employed in obtaining the optimal solution. Monte Carlo simulation is conducted in order to illustrate that the specific risks (producer’s and consumer’s risk) are met. In order to study the sensitivity of the optimal solution due to mis-specification of parameter values and cost components, a well designed sensitivity analysis is incorporated using parameter estimates from real life Type-I hybrid censored data set.
Keywords: Life testing plans; Reliability; Acceptance sampling; Type-I hybrid censoring; General rebate warranty; Constrained optimization. (search for similar items in EconPapers)
Pages: 17 pages
Date: 2018-05
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Persistent link: https://EconPapers.repec.org/RePEc:iik:wpaper:280
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