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Let {Xi} be independent HNBUE (Harmonic New Better Than Used in Expectation) random variables and let {Yi} be independent exponential random variables such that E(Xi) = E(Yi), i = 1, ...., n. Assume two series systems are constructed: one with lifetimes {Xi} and the other with lifetimes {Yi}. If the systems are equally costly, we show any risk averse decision-maker will prefer the HNBUE system. Parallel...
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