In this rejoinder, we first comment on valuable discussions of contributors. Based on these meaningful inputs, we proceed with description of the notion of “virtual age” from different perspectives. We also add a more detailed description for the new concept of a random virtual age that is applied to degrading items. The latter is used for age recalculation when one operational regime is switched to another.
|Number of pages||8|
|Journal||Applied Stochastic Models in Business and Industry|
|State||Published - 1 Jan 2021|
Bibliographical noteFunding Information:
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 (Grant Number: 2019R1A6A1A11051177).
© 2021 John Wiley & Sons, Ltd.
- age reduction
- imperfect repair
- minimal repair
- virtual age