A Certain Product Is Comprised of Two Components: X and Y.Component

question 4

Short Answer

A certain product is comprised of two components: X and Y.Component X has a random failure rate of one in every ten years,while component Y's random failure rate is one in every five years.This product has a mean time to wear-out of eight years with a standard deviation of one year.What is the probability that component X will perform reliably for a year?

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Definitions:

Available For Sale

A classification for financial assets indicating that they are neither held for trading purposes nor intended to be held to maturity, implying they can be sold to meet liquidity needs or strategic goals.

Idle Funds

Money that is not currently invested or used in transactions, potentially earning no interest or profit.

Semiannually

Occurring or calculated twice a year.

Stock Dividend

A stock dividend is a dividend payment made to shareholders in the form of additional shares rather than a cash payout, affecting the company's share price and equity structure.