A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution
(2005). A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution. EKB Journal Management System, 49(2), 199-212. doi: 10.21608/esju.2005.313566
. "A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution". EKB Journal Management System, 49, 2, 2005, 199-212. doi: 10.21608/esju.2005.313566
(2005). 'A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution', EKB Journal Management System, 49(2), pp. 199-212. doi: 10.21608/esju.2005.313566
A Prediction Model for Warranty Reserves Using the Log-Logistic Distribution. EKB Journal Management System, 2005; 49(2): 199-212. doi: 10.21608/esju.2005.313566

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

The Egyptian Statistical Journal
Article 7, Volume 49, Issue 2, December 2005, Page 199-212  XML
Document Type: Original Article
DOI: 10.21608/esju.2005.313566
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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.
 
Keywords
Log; Logistic Distribution; Maximum Likelihood Estimation; Prediction Number of Failures; Warranty Models; Warranty Reserves
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