Title: On phase type arithmetico-geometric process and its application to deteriorating systems with warranty
Authors: Y. Sarada; R. Shenbagam
Addresses: Department of Mathematics, College of Engineering Guindy, Anna University, Chennai-600 025, India ' Department of Mathematics, College of Engineering Guindy, Anna University, Chennai-600 025, India
Abstract: This research article makes an attempt to introduce a phase type arithmetico-geometric process and illustrate its applicability to a deteriorating system with fixed warranty. Properties, renewal function, second moment and variance of the underlying counting process are derived analytically and supplemented numerically in the case of three distributions: exponential, Erlang distribution of order 3 and Coxian distribution of order 2. Sensitivity analysis and graphical illustrations are provided to highlight the effect of various cost parameters on the expected warranty cost by means of the Exponential and Erlang distribution of order 2.
Keywords: phase type distribution; arithmetico-geometric process; fixed warranty.
DOI: 10.1504/IJMOR.2019.100740
International Journal of Mathematics in Operational Research, 2019 Vol.14 No.4, pp.568 - 589
Accepted: 17 Dec 2017
Published online: 17 Jul 2019 *