Cost Functions for Systems with Spare Components

Donald F. Morrison
Additional contact information
Donald F. Morrison: Biometrics Branch, National Institute of Mental Health, Bethesda, Maryland

Operations Research, 1961, vol. 9, issue 5, 688-694

Abstract: Cost functions for determining the optimum number of spare elements to be assigned to systems of identical components under a certain replacement scheme are investigated. The properties of one cost function are studied for component life as an exponentially distributed random variable, and tables are presented of the number of spare components that minimize the function for specified cost ratios. The problem of the optimum number of spares is also considered for systems in which unfailed components may be salvaged for use with later systems.

Date: 1961
References: Add references at CitEc
Citations:

Downloads: (external link)
http://dx.doi.org/10.1287/opre.9.5.688 (application/pdf)

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:inm:oropre:v:9:y:1961:i:5:p:688-694

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().