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A rate randomized geometric process with applications

Asadi, Majid, Wu, Shaomin (2024) A rate randomized geometric process with applications. Naval Research Logistics, . ISSN 0894-069X. (doi:10.1002/nav.22175) (Access to this publication is currently restricted. You may be able to access a copy if URLs are provided) (KAR id:104977)

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The geometric process has been widely studied in various disciplines and applied in reliability, maintenance and warranty cost analysis, among others. In its applications in maintenance policy optimisation, the geometric process assumes constant repair effectiveness by its process rate. Nevertheless, in practice, maintenance effectiveness may differ from time to time and can therefore be better depicted by a random variable. Motivated by this argument, this paper proposes a new variant of the geometric process, which is referred to as the rate randomized geometric process (RRGP). The probabilistic properties of the RRGP are then investigated. The maximum likelihood method is utilised to estimate the parameters of the RRGP. Numerical examples are given to show its applicability in both maintenance policy optimization and fitting real-world failure datasets.

Item Type: Article
DOI/Identification number: 10.1002/nav.22175
Uncontrolled keywords: Geometric process, reliability, maintenance, optimisation, stochastic ordering
Subjects: H Social Sciences > HA Statistics > HA33 Management Science
Divisions: Divisions > Kent Business School - Division > Department of Analytics, Operations and Systems
Funders: University of Kent (
Depositing User: Shaomin Wu
Date Deposited: 13 Feb 2024 10:54 UTC
Last Modified: 19 Feb 2024 10:06 UTC
Resource URI: (The current URI for this page, for reference purposes)

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