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313566

A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution

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Last updated: 05 Jan 2025

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Abstract

Many products carry warranty that offers protection for the consumer against low quality. This paper considers the problem of assessing the size of reserve needed by the manufacturer to meet future claims. We assume that the failure-time has Log-Logistic distribution Maximum likelihood estimate for the shape and the scale parameters of the Log-Logistic distribution are obtained. Prediction of a future number of failures during the warranty period, is presented. The effect on total warranty reserve cost is considered under several warranty models in case of non-repairable products. A numerical example is given to illustrate the theoretical results.  

DOI

10.21608/esju.2005.313566

Keywords

log, Logistic Distribution, Maximum likelihood estimation, Prediction Number of Failures, Warranty Models, Warranty Reserves

Volume

49

Article Issue

2

Related Issue

42994

Issue Date

2005-12-01

Publish Date

2005-12-01

Page Start

199

Page End

212

Print ISSN

0542-1748

Online ISSN

2786-0086

Link

https://esju.journals.ekb.eg/article_313566.html

Detail API

https://esju.journals.ekb.eg/service?article_code=313566

Order

7

Type

Original Article

Type Code

1,914

Publication Type

Journal

Publication Title

The Egyptian Statistical Journal

Publication Link

https://esju.journals.ekb.eg/

MainTitle

A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution

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Article

Created At

28 Dec 2024