7. Reliability and maintenance
Random processes are "ubiquitous" in this field, to model the process of failure or breakdown in a component or complex system, as well as the evolution over time of the system's state.
7.1 Reliability function
For a given component, if its operation starts at time t = 0, we define its lifetime τ as the first time it fails or, what amounts to the same thing, the time during which it has functioned correctly, τ is a random variable and we define the (non-decreasing) function ,...
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Reliability and maintenance
Multivariate financial series
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