Abstract
The purpose of this study is to obtain a theoretical method to evaluate the renewal plan of an air-conditioning system or element thereof. Presented herein is a method to estimate the probable renewal time of air-conditioning system elements through the use of probability density functions' mathematical models. These models enable the economical evaluation of two types of decisions ; 1) whether or not to renew one element of an air-conditioning system at a certain point in time, and 2) whether to renew the whole air-conditioning systems' configuration or maintain the existing air-conditioning system under its current configuration.
