Replacement models - operation research model, Operation Research

These models are used when one must decide the optimal time to replace equipment for one reason or the other for instance, in the case of equipment whose efficiency deteriorates with time or fails immediately and completely. For example in case of an automobile the user has his own measure of effectiveness. So there will not be a single optimal answer for everyone even if each automobile gives exactly the service.

Posted Date: 3/21/2013 3:43:37 AM | Location : United States

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