A Certain Product Is Comprised of Two Components

question 11

Short Answer

A certain product is comprised of two components:
X and Y.Component X has a random failure rate of one in every ten years,while component Y's random failure rate is one in every five years.This product has a mean time to wear-out of eight years with a standard deviation of one year.What would be the reliability of this product if both components were redundant?

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Definitions:

Profit Margins

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, representing profitability.

Low-cost Strategy

A competitive strategy focusing on offering products or services at the lowest possible price point to gain market share.

Technological Synergy

The heightened effectiveness or efficiency achieved when various technological systems operate together in coordination.

Profitable New Markets

Emerging or unexplored market segments that offer the potential for significant financial returns.