Technometrics · 1968 · 10 citations · 5 references
EngineeringIndustrial EngineeringManufacturing EngineeringMachine LearningManufacturing ProcessesStochastic ProcessesLearning ProcessesMaintenance CostsMaterial DeteriorationPredictive MaintenanceProcess ModelingSoftware MaintenanceControl ActionsDegradation Cost ModelingDegradation ModelingPredictionPrior Value Of InformationRevision TimingTool Wear PredictionWear Prediction
Many processes are subject to deterioration over time. This paper presents a model which provides a rule for process revision which considers the costs of the available actions and a current prediction of the time at which revision will be necessary (1) under prior information only and (2) as periodic sampling information becomes available. An example is given.
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Applied Statistical Decision Theory
D. V. Lindley, Howard Raiffa, Robert Schlaifer · Econometrica · 1962 · 2.2K citations
Applied Statistical Decision Theory.
Daniel Solomon, Howard Raiffa, Robert Schlaifer · Biometrics · 1969 · 123 citations