In: Statistics and Probability
Failure rate of electrical components manufactured by a company is 6 every year, and the time to failure of each component follows the exponential distribution. Write the failure density, failure distribution function and survival function of each component. Hence,(
a) calculate the probability that any one component supplied by the company will fail in less than half a year.
b) determine the probability that any one component will survive more than 10 months.
c) determine the mean, median and standard deviation of the failure time of any one component supplied by the company. Hence, deduce the shape of the failure density you gave in part (a).