Cost benefit analysis of a single-unit system with warranty for repair

In this paper, a single-unit system is analyzed stochastically in detail giving warranty for repair. The cost of repair during warranty period is borne by the manufacturers. There is a single server who always remains with the system. The time to failure of the system follows negative exponential distribution while repair time distribution is taken as arbitrary. To carry out cost-benefit analysis, the expressions for some measures of system effectiveness such as reliability, mean time to system failure (MTSF), availability are derived using supplementary variable technique. The numerical results for reliability and profit function are obtained for particular values of various parameters and costs. (C) 2013 Elsevier Inc. All rights reserved.