Letter to the Editor—Age Replacement with Discounting

Bennett Fox
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Bennett Fox: The Rand Corporation, Santa Monica, California

Operations Research, 1966, vol. 14, issue 3, 533-537

Abstract: We consider age replacement with discounting. For known failure distribution, our principal results are for the case when the failure rate is continuous and strictly increasing to ∞. We also show what happens for small discount rate. For unknown failure distribution, we give the mini-max strategy.

Date: 1966
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