An economic sequential screening procedure for limited failure populations

D. S. Bai and Y. I. Kwon

Naval Research Logistics (NRL), 1994, vol. 41, issue 4, 523-535

Abstract: An economic sequential screening procedure is considered for limited failure populations in which defective items fail soon after they are put in operation and nondefective ones never fail during the technical life of the items. A cost model is constructed that involves screening test cost and external failure cost. A sequential scheme that minimizes the expected cost is derived from the solution of a dynamic programming formulation and the optimal decision at each stage is obtained in a closed form. © 1994 John Wiley & Sons, Inc.

Date: 1994
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https://doi.org/10.1002/1520-6750(199406)41:43.0.CO;2-C

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:41:y:1994:i:4:p:523-535

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