Performance evaluation of stochastic model on automatic teller machines considering major/minor faults

The paper considers a reliability model for Automated Teller Machines (ATM) that may have faults in hardware/software components. In the ATM, hardware and software components may have minor or major fault(s) and the occurrence of a minor fault leads to degradation state whereas a major fault leads to failure of the system. Whenever the ATM fails or goes under degradation state then the service engineer first inspect whether there is fault in the hardware or software component then recovery of the relevant component is done. Using Markov processes and regenerative point technique various measures of system performance are obtained. Using these measures the profit analysis of the system is carried out. Various conclusions about reliability and cost of the system are made on the basis of the graphical studies