Improved techniques for parametric and nonparametric evaluations of the first‐passage time for degradation processes

Lochana K. Palayangoda, Hon Keung Tony Ng and Ronald W. Butler

Applied Stochastic Models in Business and Industry, 2020, vol. 36, issue 4, 730-753

Abstract: For degradation data in reliability analysis, estimation of the first‐passage time (FPT) distribution to a threshold provides valuable information on reliability characteristics. Recently, Balakrishnan and Qin (2019; Applied Stochastic Models in Business and Industry, 35:571–590) studied a nonparametric method to approximate the FPT distribution of such degradation processes if the underlying process type is unknown. In this article, we propose some improved techniques based on saddlepoint approximation, which enhance those existing methods. Numerical examples and Monte Carlo simulation studies are used to illustrate the advantages of the proposed techniques. Limitations of the improved techniques are discussed and some possible solutions to such are proposed. Some concluding remarks and practical recommendations are provided based on the results.

Date: 2020
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://doi.org/10.1002/asmb.2528

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:apsmbi:v:36:y:2020:i:4:p:730-753

Access Statistics for this article

More articles in Applied Stochastic Models in Business and Industry from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().