Optimal replacement policy with unobservable states
- 1 June 1977
- journal article
- Published by Cambridge University Press (CUP) in Journal of Applied Probability
- Vol. 14 (2), 340-348
- https://doi.org/10.2307/3213004
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
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