A Product Is Composed of Four Subsystems That Have Reliabilities

question 78

Essay

A product is composed of four subsystems that have reliabilities of .999,.87,.98,and .99.What is the overall reliability of this product?

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Definitions:

Social Security

Social Security is a government system that provides financial assistance to people with an inadequate or no income, primarily the elderly, disabled, and survivors.

Income Support

Government-provided financial assistance aimed at ensuring individuals can meet a minimum standard of living.

Efficient Tax System

An efficient tax system is one that collects government revenues with minimal economic distortion, allowing for effective allocation of resources without significantly hampering growth.

Deadweight Losses

Economic inefficiencies resulting from market distortions, typically leading to a loss of total societal welfare.