Question

In: Statistics and Probability

The It-will Fail company manufactures gizmos for use on widgets. The time to failure, in years,...

The It-will Fail company manufactures gizmos for use on widgets. The time to failure, in years, f these gizmos has the following PDF:

Derive the reliability function and determine the reliability for the first year of operation.

Compute the MTTF

What is the design life for a reliability of 0.95?

Is the failure rate decreasing failure rate (DFR), constant failure rate (CFR) , or increasing failure rate (IFR).

Solutions

Expert Solution


Related Solutions

A company uses EOQ. Every time they place an order for widgets, they order 1,000 widgets....
A company uses EOQ. Every time they place an order for widgets, they order 1,000 widgets. The cost of placing an order is $30. It cost $ 4.00 for a widget to sit in the warehouse for a year. On average, the company uses 50 widgets per day. The most widgets the company could ever use is 60. When an order is placed, it takes 4 days to receive the widgets. Annual usage is 13,000 units. Use this information to...
Your company manufactures widgets. The fixed cost incurred (independent of the number of widgets produced) each...
Your company manufactures widgets. The fixed cost incurred (independent of the number of widgets produced) each year is $80,000. The variable cost per widget is $0.25. The sale price of each widget is $1.00. The price and the costs are expected to remain unchanged over time. In year 1, the company expects to sell 100,000 widgets. It expects its sales to increase at the rate of 4% a year forever. The discount rate is 10%. Ignore taxes. What is the...
ABC, Inc., produces widgets. The company manufactures three levels of widgets-Economy, Better and Best. Selected information...
ABC, Inc., produces widgets. The company manufactures three levels of widgets-Economy, Better and Best. Selected information on the widgets is given below. Economy Better Best Selling price per widget $45.00 $70.00 $85.00 Variable expense per widget production $23.00 $27.00 $32.00 Selling (5% of selling price) $2.25 $3.50 $5.00 All sales are made through the company’s own retail outlets. The widgets have the following fixed costs. Per Month Fixed production costs $130,000 Advertising expense 120,000 Administrative salaries 65,000 Total $315,000 Sales,...
The random variable x describes the failure time (in years) of a certain hydraulic component. The...
The random variable x describes the failure time (in years) of a certain hydraulic component. The function of the variable is: f(x) = 32 / (x + 4)^3      x > 0 1) Determine if it is a function of density 2) Determine the cumulative probability function 3) Calculate the probability that the component's lifetime is between 2 and 6 years. 4) Calculate V (x) and E (x) for the life span of this type of component. 5) If you were...
Why markets fail and what are the causes of market failure in the past present and...
Why markets fail and what are the causes of market failure in the past present and foreseeable future. - Remember externalities, public good, imperfect markets, information asymmetry etc are among the factors to consider
The Acme Company manufactures widgets. The distribution of widget weights is approximately normal with a mean...
The Acme Company manufactures widgets. The distribution of widget weights is approximately normal with a mean of 53 ounces and a standard deviation of 10 ounces. Use the Empirical Rule to answer the questions below. Sketch the distribution in order to answer these questions. (a) 99.7% of the widget weights lie between and (b) What percentage of the widget weights lie between 43 and 83 ounces? % (c) What percentage of the widget weights lie below 73 ? %
Hyper Color Company manufactures widgets. The following data is related to sales and production of the...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year.   Selling price per unit $150 Variable manufacturing costs per unit $63 Variable selling and administrative expenses per unit $8 Fixed manufacturing overhead (in total) $34,000 Fixed selling and administrative expenses (in total) $9000 Units produced during the year 1700 Units sold during year 1000    Using absorption costing, what is operating income for last year? (Round any intermediary calculations to...
The Acme Company manufactures widgets. The distribution of widget weights is bell-shaped with a mean of...
The Acme Company manufactures widgets. The distribution of widget weights is bell-shaped with a mean of 37 ounces and a standard deviation of 3 ounces. Using the Empirical Rule, answer the following questions. Suggestion: Sketch the distribution. a) 95% of the widget weights lie between  and b) What percentage of the widget weights lie between 28 and 43 ounces?  % c) What percentage of the widget weights lie below 40?  %
The failure time T (in hours of use) for a particular electronics component follows an exponential...
The failure time T (in hours of use) for a particular electronics component follows an exponential distribution with parameter λ. Find the probability that a failure time is somewhere within 1 standard deviation of the mean failure time. Explain in words what you did to solve this, and then tell me your final answer.
Hyper Color Co. Manufactures Widgets...the following data is related to sales and production of the widgets...
Hyper Color Co. Manufactures Widgets...the following data is related to sales and production of the widgets for last year. Selling price per unit ..... $130 Variable Manufacturing costs per unit .... $61 Fixed Manufacturing Overhead (total) .... $35,000 Fixed Selling and Administrative Expenses (total) ... $8,000 Units Produced ... 1700 Units Sold ... 1400 Prepare an operating income statement for both Absorption and Variable Costing (explain why different)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT