International Journal of Statistika and Mathematika, ISSN: 2277- 2790 E-ISSN: 2249-8605
Volume 6, Issue 2, June 2013 pp 79-84
A Fuzzy Economic Replacement Decision Model
Prakash R Chavan
Assistant Professor, Department of Statistics, Smt. Kasturbai Walchand Collage (Art & Sci), Sangli, Maharashtra, INDIA.
Academic Editor: Dr. Dase R.K.
In every field of our real life situations, we deal with a replacement problem, when some items such as machines, medical equipment, military tank, electric bulb etc. or workers need to replace due to their decreased efficiency, failure or break down. To get a more realistic view of a replacement problem, here, we consider that the analytic hierarchy process (AHP) for economic Replacement of component.In this Paper, we use Fuzzy AHP method for solving replacement problem in fuzzy environment. Linguistic values are used to assess the ratings and the weights for key components. These linguistic ratings can be expressed in trapezoidal fuzzy numbers. Euclidian distance method is used to calculate the distance between two trapezoidal numbers. Finally, a closeness coefficient of each alternative is defined to determine the ranking order of all alternatives (Key Components).