The Bayes Linear Approach to Inference and Decision Making for a Reliability Programme

Authors: Goldstein M, Bedford Tim

Management Science Working Paper No. 14 (2005)

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Abstract

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In reliability modelling it is conventional to build sophisticated models of the probabilistic behaviour of the component lifetimes in a system in order to deduce information about the probabilistic behaviour of the system lifetime. Decision modelling of the reliability programme requires a priori, therefore, an even more sophisticated set of models in order to capture the evidence the decision maker believes may be obtained from different types of data acquisition. Bayes linear analysis is a methodology that uses expectation rather than probability as the fundamental expression of uncertainty. By working only with expected values, a simpler level of modelling is needed as compared to full probability models. In this paper we shall consider the Bayes linear approach to the estimation of a mean time to failure MTTF of a component. The model built will take account of the variance in our estimate of the MTTF, based on a variety of sources of information.