City Guilds Model Questions Vol1 2023 Engineering Question 38
Practice objective / multiple choice question 38 from the 2023 City Guilds Model Questions Vol1 Engineering examination.
A machine has a constant failure rate of \(\lambda = 0.0002\) per hour (exponential distribution). A preventive‑maintenance (PM) action restores the machine to "as‑good‑as‑new", costs \(\text{₦}500\) and requires 1 hour of downtime. An unplanned failure costs \(\text{₦}5000\) and incurs 3 hours of downtime. The monetary value of lost production is \(\text{₦}200\) per hour of downtime. If a PM is scheduled every \(T\) operating hours, determine the value of \(T\) that minimizes the expected cost per hour of operation. State the optimal policy.
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About This Question
This is City Guilds Model Questions Vol1 2023 Engineering Question 38. It is one of the objective questions from the 2023 City Guilds Model Questions Vol1 Engineering examination.
Difficulty level: Hard .
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