Warranty and Fair Pricing for Used Items in Two-Dimensional Life Time
نویسندگان
چکیده
Cost assessment related to age of multiple components is discussed. We use definitions of equivalent ages in multi-dimensional life to illustrate how cost characteristics should be fairly assessed. Pricing of used items with residual value and assigning warranty for used items as a function of item’s age are the subjects of our study. Numeric examples based on correlated Bivariate normal distribution for two life components illustrate our concepts.
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