Title :
Preferences among lifetime distributions of systems of components
Author :
Stein, W.E. ; Dattero, R. ; Pfaffenberger, R.C.
Author_Institution :
Texas A&M University, College Station, TX
Abstract :
Let {Xi} be independent HNBUE (Harmonic New Better Than Used in Expectation) random variables and let {Yi} be independent exponential random variables such that E(Xi) = E(Yi), i = 1, ...., n. Assume two series systems are constructed: one with lifetimes {Xi} and the other with lifetimes {Yi}. If the systems are equally costly, we show any risk averse decision-maker will prefer the HNBUE system. Parallel systems are investigated under similar assumptions.
Keywords :
Costs; Distribution functions; Educational institutions; Exponential distribution; Finance; Investments; Production systems; Reliability theory; Stochastic processes; Stochastic systems;
Conference_Titel :
Decision and Control, 1984. The 23rd IEEE Conference on
Conference_Location :
Las Vegas, Nevada, USA
DOI :
10.1109/CDC.1984.272090
