Improving the age composition of dynamic populations of manufactured items

Maxim Finkelstein, Ji Hwan Cha

Research output: Contribution to journalArticlepeer-review

Abstract

Populations of manufactured degrading items that are incepted into operation with a given rate are considered. To improve the age composition of these dynamic populations, the truncation of items’ lifetimes is proposed and the corresponding optimization problem is studied. The impact of shocks on the population age structures is also described. The effect of these ‘interventions’ for dynamic and static populations has not been studied in the literature.
Original languageEnglish
Article number109879
JournalStatistics and Probability Letters
Volume201
Early online date7 Jun 2023
DOIs
Publication statusPublished - Oct 2023

Keywords

  • age composition
  • truncation
  • failure rate
  • burn-in
  • shocks

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