Markov models may be used for three-and-more-state reliability descriptions of power plants. Researchers, demonstrate the potential improvement in system reliability calculation accuracy (such as LOLP) with multi-state power plant reliability descriptions.
Andras Istvan Fazekas and Eva V. Nagy. Improvement of Lolp Calculation Accuracy with Three-and-More-State Reliability Descriptions.
DOI: https://doi.org/10.36478/ijepe.2013.60.64
URL: https://www.makhillpublications.co/view-article/1990-7958/ijepe.2013.60.64