Cost benefit analysis of a complex system with correlated failures and repairs

Abstract This paper studies the cost benefit analysis of a complex system consisting of two subsystems, say A and B, connected in series. Subsystem A consists of two identical units, whereas subsystem B has only one unit. The system operates if one of the two units of subsystem A and the subsystem B are operative. Assuming a bivariate exponential density for the joint distribution of failure and repair times of the units, some reliability characteristics useful to system managers have been obtained. Explicit results have also been obtained for the case when failure and repair times are uncorrelated.