Minimize system cost by choosing optimal subsystem reliability and redundancy

Abstract

The basic question which we address in this paper is how to choose among competing subsystems. This paper utilizes both reliabilities and costs to find the subsystems with the lowest overall expected cost. The paper begins by reviewing some of the concepts of expected value. We then address the problem of choosing among several competing subsystems. These concepts are then applied to k-out-of-n: G subsystems. We illustrate the use of the authors' basic program in viewing a range of possible solutions for several different examples. We then discuss the implications of various solutions in these examples.