Let X denote the time to failure (in years) of a certain hydraulic component. Suppose the pdf
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Let X denote the time to failure (in years) of a certain hydraulic component. Suppose the pdf of X is f(x) = 32 / (x + 4)3 for x < 0.
a. Verify that f (x) is a legitimate pdf.
b. Determine the cdf.
c. Use the result of part (b) to calculate the probability that time to failure is between 2 and 5 years.
d. What is the expected time to failure?
e. If the component has a salvage value equal to 100 / (4 + x) when its time to failure is x, what is the expected salvage value?
Salvage ValueSalvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...
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Related Book For 
Probability And Statistics For Engineering And The Sciences
ISBN: 9781305251809
9th Edition
Authors: Jay L. Devore
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