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Reliability Modeling and Profit Analysis of an Oil Delivering System with a Possibility of Switching over to Another System on Normal Payment

Abstract: A two-unit standby oil delivering system is dealt with in the present study with a possibility of switching over to another system. Initially, one unit is operative and the other is cold standby. On the failure of both the units, there is a possibility of switching over to another system on normal payment. This practical situation may be observed in an oil refinery plant. The system is analyzed by making use of semi-Markov processes and regenerative point technique. Expression for the expected profit is obtained after finding various measures of system effectiveness. Graphical analysis is also done for a particular case and various interpretations are made.