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
DOIs
StatePublished - Oct 2023

Bibliographical note

Funding Information:
The authors would like to thank the reviewers for helpful comments and suggestions. The work of the second author was supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education, Korea (Grant Number: 2019R1A6A1A11051177 ).

Publisher Copyright:
© 2023 Elsevier B.V.

Keywords

  • Age composition
  • Burn-in
  • Failure rate
  • Shocks
  • Truncation

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