An optimal service interval for a replacement model with the Weibull failure distribution

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1978

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Abstract

A fleet replacement policy for the catastrophic failure model has been developed. Associated with this policy two distinct but related problems have been studied. Firstly, the Weibull failure model with known values of its parameters is assumed. The approximate analytical optimal service intervals based on the expected cost have been found and turned out to be very close to the numerical optimal solutions. Also the optimal service intervals for the minimum of maximum cost with specified level of confidence have been discussed. Secondly, it is assumed that while the Weibull model is known to apply, the values of its parameters are not known. In determining an optimal service interval, the cost incurred in estimating the parameters, as well as the uncertainties associated with the estimates of the parameters has been taken into account. This problem has been explored and the route to its solution has been clarified.

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