One Single Component Reliability Monte Carlo Chronological Method

This simple code shows how the Monte Carlo Chronological method works. This example is intended to be for educational purpose, generating an artificial history data vectors of a single component modeled in a two state Markov chain model and exponentially distributed. You just need to enter the number of experiments to determine the simulation time-span (recommended to be above 1000 experiments)and the MTTF and MTTR of the repairable component.
As there is no convergence criteria, it is recommended that you run the simulation many times with a large number of experiments and of course, the same reliability data of the component.