A Component Must Have Reliability of

question 57

Essay

A component must have reliability of .9925.Two technologies are available for this component: one produces a component with .999 reliability at a cost of $2000.Another produces a component with .73 reliability at a cost of $450.Which is cheaper: one high quality component or a parallel set of inferior components? (Hint: for the inferior components,you first need to determine the number of them that would be needed to ensure overall reliability of .9925. )

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Definitions:

Vision

A forward-looking statement or concept that outlines what an organization or individual wants to achieve or become in the future.

Mission Statement

A short statement that defines an organization's purpose, goals, and approach to its operations, guiding its internal decision-making processes.

Business Definition

Describes the core activities, purpose, and scope of a business entity.

Customer Value Proposition

A business or marketing statement that describes why a customer should buy a product or use a service, highlighting the unique value it offers.