An Electronics Repair Shop Has Determined That the Time Between

question 53

True/False

An electronics repair shop has determined that the time between failures for a particular electronic component part is exponentially distributed with a mean time between failures of 200 hours. Based on this information, the probability that a part will not fail in the first 200 hours is 0.50.

---

Definitions:

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, used as a measure of the threshold of statistical significance.

Commission Incomes

Earnings made based on a percentage of sales or transactions completed, common in sales roles.

Confidence Interval

An estimated span, defined by a certain probability, that is anticipated to include the accurate measure of a yet-to-be-determined demographic variable.

Variance

A measure of the dispersion or spread of a set of data points or random variables, showing how much the values differ from the mean of the set.