Stochastic analysis of a dependent parallel system

Article Abstract:

A study is conducted to examine the development of the derivation of operating characteristics for a two-unit parallel redundant repairable system with unit dependence. The study focuses on the stochastic behavior of such a system and considers reliability, availability and stationary availability as performance measures. Results show that several state entries generate a stochastic point process which reflect failed system components.

Usage, Stochastic analysis, Parallel processing

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A conditional effect of autocorrelated demand on safety stock determination

Article Abstract:

A study is conducted to extend earlier research on the determination of safety stocks. Earlier research assumed that the mean and variance of daily demands changed with a corresponding change in the autocorrelation parameter. The current study assumes a constant mean and variance for all treatment conditions. Results show that autocorrelation exhibits a vital effect on safety stocks.

Inventory control

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Option pricing bounds with standard risk aversion preferences

Article Abstract:

Research is presented concerning the development of a model which can be used for the valuation of financial options. The stochastic process which influence the behavior of prices of the security are discussed.

Operations Research, Models, Prices and rates, Options (Finance), Finance

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