It Is Assumed That the Time Failures for an Electronic

question 31

Multiple Choice

It is assumed that the time failures for an electronic component are exponentially distributed with a mean of 50 hours between consecutive failures. What is the probability that a component will be functioning after 60 hours?

• A) Approximately 0.30
• B) About 0.70
• C) About 0.21
• D) About 0.49

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Definitions:

Financial Reporting Requirements

Legal or regulatory obligations that entities must follow when presenting their financial information to ensure transparency and accountability.

IAS 1

International Accounting Standard 1, prescribing the basis for presenting general purpose financial statements.

Financial Statements

Formal records that outline the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Bank Reconciliation

The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.