A Bayesian Approach to Optimal Warranty Length for A Kumaraswamy Life Time Distributed Product with General Progressive Censoring Scheme
In this paper we focus on the study of optimal warranty of a Kumaraswamy life time distributed product based on general progressive type-II censoring scheme. We have considered free-replacement, pro-rata and combination of the two policies under Bayesian set up. Optimal warranty lengths under the above policies are determined by maximizing expected utility function. A numerical data is used to exemplify the theory. A simulation study is also carried out to check the effect of hyper parameters on optimal warranty length under the above three warranty policies.
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