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Eight low watt bulbs are tested for 600 hours each. One failed at 80 hours and a second failed at 510 hours; all others completed the test. Calculate FR(%), FR(N) and MTBF.
Standard Deviation
A statistical measure of the dispersion or variability within a data set, indicating how spread out the numbers are from the mean.
Optimal Cycle
The most efficient duration or sequence for a process or operation to minimize costs and maximize output.
Service Level
A measurement of the performance of a system, often used in supply chains to quantify the percentage of customer demands met without delay.
Overstocking Cost
Expenses incurred when a company holds more inventory than it can sell, including storage, insurance, and depreciation.
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