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(Ma) Consider a metallic structure, e.g. oil pipe, subject to corrosion. The pipe's deterioration process is modeled as Gamma process with parameters =0.1%/day and =1.
(Ma) Consider a metallic structure, e.g. oil pipe, subject to corrosion. The pipe's deterioration process is modeled as Gamma process with parameters =0.1%/day and =1. The failure limit of the pipe yc=10%. The corrective maintenance cost is equal to $10,000. The inspection cost is negligible. 1. What is the probability that it fails before time t=100days
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