Residual-based inspection/replacement policy for a deteriorating system with Markovian covariates

Abstract

This paper investigates a residual-based maintenance policy for a stochastic deteriorating system, which is influenced by a Markovian covariates process. The baseline stochastic deterioration is modeled by a Gamma process, and the covariates process is assumed to be a time-homogeneous finite-state Markov chain. A model similar to the proportional hazards… (More)

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