Fundamentals & Concept of Reliability & Profit Analysis of System: A Systematic Review

The twenty first century is a century of technologies. Today, everyone has impact of these technologies, even industries, which are totally dependent on machines for their chores. Now, the great challenge for researchers/engineers is to produce highly reliable products at minimum cost. Thus, the fastest growing industries need to select highly reliable systems. The aim of present paper is to analyze the reliability and the behavior of mean time to system failure, availability, busy period and profit function with respect to systems parameters (failure rate, repair rate, service rate, etc). A tabular and graphical study also has been done to highlight the important results. A system in which the chance of misdiagnosis is present is a failure will be analyzed for a reliability model. When failure occurs, the system is repaired by an ordinary repairman who may find the repair he does incorrect. If the defective repair is seen after it has been completed, it will be restored by an professional repairman. The system is analyzed using the technical regeneration point. The system 's profits are assessed with interesting results.