The Tradeoff between Slow and Fast Repair: Illustrations of the Optimal Operating Policy for the Machine Repair Problem.
SOUTH DAKOTA SCHOOL OF MINES AND TECHNOLOGY RAPID CITY DEPT OF MINING ENGINEERING
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The report extends and illustrates numerically a Markov decision formulation of the machine repair problem with a choice of service between two facilities one slow but inexpensive and the other fast but expensive. In particular the authors consider a system consisting of at most m machines operating simultaneously.
- Operations Research