Decision theory in maintenance strategy of standby system with gamma-distribution repair-time

This study develops an application for a previous decision-model analyzed via decision theory. The previous paper identifies a need for additional applications in that decision-model. This study introduces a gamma repair-time distribution with shape-parameter 2. The uncertainty of the gamma scale-parameter is accounted for in a Bayes approach, eliciting expert prior belief. Conflicting requirements of system availability and cost are combined through a multi-attribute utility function. A numerical application with sensitivity analysis, illustrates the use of the model.