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Some age replacement policies are investigated and conditions for the unique existence of an optimum policy are derived. The optimum policy is the one which minimizes the expected cost per unit time over an infinite time span or maximizes the proportion of time during which the system is in operation. Losses have been expressed through increasing operating cost, if the objective is to minimize the...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.