COST- BENEFIT ANALYSIS OF A SINGLE-UNIT SYSTEM SUBJECT TO RANDOM SHOCKS
Keywords:
Single- Unit System, Random Shocks, Maintenance, Repair, Replacement and Cost-Benefit Analysis.Abstract
The purpose of the present study is to carry out cost-benefit analysis of a single-unit system subject to random shocks. The operative unit may be affected by the impact of random shocks with some probabilities. The unit may fail completely due to the reasons other than shocks. There is a single server who visits the system immediately. The maintenance of the unit is carried out by the server if it is affected by the impact of a shock. However, repair of the unit is done at its failure. Maintenance and repair are perfect. All the random variables are statistically independent. The shock and failure times of the unit are exponentially distributed whereas distributions of maintenance and repair times are taken as arbitrary. The expressions for various reliability measures are evaluated in steady state using semi-Markov process and regenerative point technique. The values of MTSF, availability and profit functions are obtained for a particular case to depict their graphical behavior with respect to shock rate.
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