Question: Consider a device that follows the Weibull lifetime distribution with n = 8 0 0 0 hours and = 2 . If it experiences a
Consider a device that follows the Weibull lifetime distribution with n hours and If it experiences a failure, minimal repair will be performed. You are to determine the optimal preventive replacement age of this device by minimizing the average unit time cost. Suppose that preventive replacement cost $ preventive replacement time days, minimal repair time day, minimal repair cost $ and there are hours in a day. Feel free to use Excel or Matlab. What is the optimal preventive replacement age of this device by minimizing the average unit time cost? What is the expected total cost at the optimal preventive replacement age? What is the minimal average unit time cost?
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