Abstract
Observed data values are typically assumed to come from an infinite population of items in reliability and survival analysis applications. The case of a finite population of items with exponentially distributed lifetimes is considered here. The data set consists of the lifetimes of a large number of items that are known to have exponentially distributed failure times with a failure rate that is known with high precision. Failure of the items is not self-announcing, as is the case with a smoke detector. A significant fraction of the items are sampled periodically, and the items that have failed are repaired to a like-new condition with respect to their survival distribution. The goal is to assess the impact of this periodic sampling and repair on the overall finite population reliability over time.
Acknowledegment
The author gratefully acknowledges the helpful comments provided by the three referees.