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This document describes a manuscript submitted to the IMA Journal of Management Mathematics that compares two stochastic models - Non-homogeneous Poisson Process (NHPP) and General Renewal Process (GRP) - for calculating an appropriate warranty period for an industrial asset after repairs. The manuscript applies the NHPP and GRP models using a Weibull distribution to distinguish between simple and complex repairs. It also includes a case study applying the concepts to determine the warranty period for a spe

Author

Andres Felipe Torres

Language

EN