Title: A methodology for sensitivity analysis of maintenance and reliability models
Abstract: Baker (2001 IMA Journal of Management Mathematics12, 1–17) presented a methodology for sensitivity analysis of models that had been fitted to data by statistical methods, e.g. likelihood‐based methods, and where the purpose of modelling was to calculate a cost function or loss function. Use of this methodology is envisaged as a quick way to get insight into how to further refine a model, and into which additional data to collect. It is essentially an exploratory method that would precede use of any more formal decision‐theoretic methods. The field of maintenance and reliability offers a rich field for application of the method. The Methodology is briefly summarized and is illustrated with two examples drawn from this field. A simulation study using a three‐parameter model of maintenance is then used to exemplify the accuracy of the method as a function of sample size.
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 2
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