Explain Why a Small Standard Deviation of the MTBF Distribution

question 93

Essay

Explain why a small standard deviation of the MTBF distribution makes a product, machine, or process a good candidate for preventive maintenance while a large standard deviation does not.

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Definitions:

Liabilities

Financial obligations or debts a company owes to others, payable in money, goods, or services.

Owner's Equity

The residual interest in the assets of an enterprise after deducting its liabilities.

Assets

Resources owned or controlled by a company that are expected to provide economic benefits or value in the future.

Expenses

Costs incurred by a business in the process of earning revenue, such as salaries, rent, and utilities.