A mean variance approach to the optimal machine maintenance and replacement problem

Keyphrases

• Machine Maintenance 100%
• Maintenance Requirement 100%
• Mean-variance Model 100%
• Replacement Problem 100%
• Salvage Value 100%
• Machine Replacement 100%
• Under Uncertainty 50%
• Certainty Equivalent 50%
• Maintenance Program 50%
• Markovian 50%
• Optimal Control Theory 50%
• Attitude to Risk 50%
• Manager Attitudes 50%
• Optimal Replacement 50%
• Non-stationary Stochastic Process 50%
• Uncertain Effect 50%

Engineering

• Maintenance Program 100%
• Optimal Control 100%