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Some renewal theory results with application to fleet warranties
Author(s) -
Zaino Nicholas,
Berke Toby
Publication year - 1994
Publication title -
naval research logistics (nrl)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.665
H-Index - 68
eISSN - 1520-6750
pISSN - 0894-069X
DOI - 10.1002/1520-6750(199406)41:4<465::aid-nav3220410402>3.0.co;2-8
Subject(s) - renewal theory , warranty , population mean , population , operations research , compensation (psychology) , mathematics , computer science , statistics , operations management , economics , demography , sociology , psychology , estimator , political science , law , psychoanalysis
The fleet warranty guarantees the purchaser of a large population of like items that the mean life of the fleet will meet or exceed some negotiated mean μ L . If the mean life is less than μ L , compensation may be given in terms of a number of free replacement parts R . The expected number of replacements E[R] is studied based upon how the mean life of items in the field is determined and on whether the sampling window starts at time t = 0 (ordinary renewal process) or at some arbitrarily large time w (equilibrium renewal process). Properties of E[R] are compared and examples are given. © 1994 John Wiley & Sons, Inc.