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Optimal issuing policies for non-identical units with stochastic lifetimes
Published online by Cambridge University Press: 14 July 2016
Abstract
Two non-identical units are to be issued sequentially. The optimal policy determines the issuing sequence which maximizes the expected lifetime of the pair of units. The units each have non-decreasing hazard rates which depend on whether the unit is in service or in storage. Sufficient conditions are obtained for optimal issuing policies in a variety of examples.
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- Copyright © Applied Probability Trust 1976
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