Some Bayes Estimates of Long-Run Availability in a Two-State System

Some Bayes estimates are obtained of an index of performance of a system that alternates between two states, up or down, in accordance with a Markov process. The index considered is long-run availability, which measures the probability that the system will be up when needed. For the purpose of obtaining these estimates, two types of observations are considered: those that reveal only the state of system at isolated time points and those that continuously record the duration of the up and down times of the system.