At each failure of a system, with probability p it is perfectly repaired, and with probability 1 − p it is restored to its condition just prior to failure. It is shown that there exists a unique p minimizing the long-run repair cost, provided the failure time distribution of the system has strictly DMRL.

On average, hedge funds experience slow failures rather than sudden crashes. I model a fund’s probability of failure using a dynamic logit regression and find that fund failures are predicted by even 7-month lagged information. Hedge funds fail slowly as investors withdraw their funds over a period of time because of poor performance. Also, longer share restriction periods and the presence of m...

Direct Monte Carlo simulation (MCS) could be prohibitively expensive for slope reliability updating problem with relatively low-probability level. This paper aims to propose an efficient slope reliability updating method based on the direct MCS. First, the direct MCS is briefly introduced. Thereafter, a weighted approach based on the direct MCS is proposed for slope reliability updating. Furthe...

Random finite element method (RFEM) provides a rigorous tool to incorporate spatial variability of soil properties into reliability analysis and risk assessment of slope stability. However, it suffers from a common criticism of requiring extensive computational efforts and a lack of efficiency, particularly at small probability levels (e.g., slope failure probability Pf<0.001). To address this ...

The majority of staging systems focus on the definition of stage, and, therefore, prediction of prognosis. In the current era of clinical trial research, it has become apparent that the clinical stage alone is not sufficient to assess patient risk of treatment failure. As the number of biological markers increases, our ability to partition the traditional disease classification system improves,...

Utilizing the gathered failure data and failure interval data from Tabas coal mine in two years, this paper discusses the reliability of powered supports. The data sets were investigated using statistical procedures and in two levels: the existence of trend and serial correlation. The results show that the powered supports follow the Gamma reliability function. The reliability of the machine de...