A New Consideration of Age Replacement Models with Exponential Failure Distribution  
Author Jiajia Cai


Co-Author(s) Xufeng Zhao


Abstract This paper reconsiders the optimization problems of random age replacement models with exponential failure distributions. Firstly, we propose a new age replacement model by balancing both cost and the extension of working life, and de ne the cost rate as the cost per unit of extended lifetime. Secondly, we discuss optimum replacement time of standard age replacement policy, replacement rst and replacement last respectively. As a result, nite values of replacement time are found for age replacement model with exponential distribution. Finally, numerical examples are illustrated to show the results in analytical way.


Keywords Age replacement, Random maintenance, Exponential failure rate
    Article #:  RQD26-73

Proceedings of 26th ISSAT International Conference on Reliability & Quality in Design
Virtual Event

August 5-7, 2021