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Optimal replacement policy with unobservable states

Published online by Cambridge University Press:  14 July 2016

Robert C. Wang
Robert C. Wang*
Affiliation:
Mountain Bell, Denver, Colorado
*
*Now at Bell System Center for Technical Education, Lisle, Illinois.
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Abstract

In this paper we shall solve the optimal policy for the Markovian replacement model in which the state of a machine is not observable. We shall consider both discounted and average costs and discuss two examples.

Keywords

MARKOVIAN REPLACEMENT MODELOPTIMAL POLICYOPTIMALITY EQUATION

Information

Type
Research Papers
Information
Journal of Applied Probability , Volume 14 , Issue 2 , June 1977 , pp. 340 - 348
Copyright
Copyright © Applied Probability Trust 1977 

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References

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