Abstract In this paper we advance a nonlinear optimization problem for hedging wind power variability by using a dispatchable energy source (DES) like gas. The model considers several important aspects such as modeling of wind power production, electricity price, nonlinear penalization scheme...

Abstract The estimation of stress-strength reliability in a time-dependent context deals with either the stress or strength or both dynamic. The repeated occurrence of stress in random intervals of time induces a change in the distribution of strength over time. In this paper, we study the...

Abstract The process capability index (PCI), denoted by 𝐼, is a well-known characteristic in quality control analysis. Using Gini’s mean difference, we construct a new PCI, I_{G} say, assuming the two-parameter Weibull distribution (WD). In order to estimate the proposed I_{G} when the...

We consider forecasting and prequential (predictive sequential) validation of meta-elliptical distributions with time varying parameters. Using the weak prequential principle of Dawid, we conduct model validation avoiding nuisance parameter problems. Results rely on the structure of...

Abstract One of the important issues is risk assessment and calculation in complex and multi-component systems. In this paper, the estimation of multi-component stress-strength reliability for the Weibull distribution under the progressive Type-II censored samples is studied. We assume that both...

Purpose – The traditional maintenance scheduling strategies of multi-component systems may result in maintenance shortage or overage, while system degradation information is often ignored. The purpose of this paper is to propose a multi-phase model that better integrates degradation...

Purpose – To a customer, higher quality is synonymous to higher expected life. Therefore, the purpose of this paper is to determine the existing life of the competing brands in a product field and suggest an improvement plan, under cost constraints, so that all the brands can be placed on a...

Purpose The purpose of this study is to select the most accurate and the most efficient method in estimating Weibull parameters at Agadir region in Morocco. Design/methodology/approach In this paper, Weibull distribution is used to model the wind speed in hourly time series format. Since several...

Purpose – The purpose of this paper is to contribute to the empirical evidence about crop yield distributions that are often used in practical models evaluating crop yield risk and insurance. Additionally, a simulation approach is used to compare the performance of alternative specifications...

Purpose The purpose of this paper is to understand the consequence of the use of mixed Weibull distribution in the cell formation problem. In reliability theory, a mixed distribution is used for more than one hazard cause, and the Weibull distribution can be used for ascendant, monotonous and...