A Certain Product Is Comprised of Two Components: X and Y.Component

question 44

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 component X were backed up with an identical component?

---

Definitions:

Foreign Investment

Investment by individuals, companies, or governments in assets or businesses located in another country.

Swiss Francs

The currency of Switzerland, known for its strength and stability.

Exchange Rate

The price at which one currency can be exchanged for another, affecting international trade and economics.

Imported Swiss Box Of Chocolates

A product category involving chocolates that have been produced in Switzerland and then imported into another country.