Abstract
The application of fuzzy set theory to renewal reward processes is proposed in this paper. The reward is modeled as a fuzzy random variable. A theorem which presents the long-run average fuzzy reward per unit time is stated. A procedure to obtain the best T-age replacement policy with fuzzy cost structure is developed. The original problem is transformed into a nonlinear program in order to evaluate the membership of the long-run average fuzzy cost per unit time.
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