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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
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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