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This paper discusses the stochastic analysis of a two-unit cold standby system, taking into account that the operative and the standby units are exchanged at random time intervals. Failure, repair and exchanging time are following general distributions. Using semi-Markov process and regenerative point technique in Markov renewal process, we develop the explicit expressions for the mean time to system failure, MTSF and steady-state availability, A(¥) for the system. Some special cases have been studied numerically and graphically to explain the effect of the system parameters on system performance. We also compute the sensitivity and relative sensitivity analysis for the MTSF and A(¥) along with changes in specific values of the system parameters.

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