Abstract
In this paper a cold standby repairable system consisting of two identical components and one repairman is studied. Assume that each component after repair is not `as good as new'. Under this assumption, by using a geometric process, we consider a replacement policy N based on the number of repairs of component 1. Our problem is to determine an optimal replacement policy N* such that the long-run expected reward per unit time is maximized. The explicit expression of the long-run expected reward per unit time is derived and the corresponding optimal repair replacement policy can be determined analytically or numerically. Finally, a numerical example is given.
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