
Age-specific reliability of a standby system depends on components’ failure rates. Reliability computation is interesting when part failure rates depend on age, which is what motivates having a standby system. A Markov chain, approximates the age-specific reliability and availability, which are complicated to compute exactly, unless you assume constant failure rates. Why not use age-specific (actuarial) rates? They are Markov chain transition rates.
[Read more…]