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6. Assume that a company decides to characterize an acceptable risk as a Category 1 failure every 100 years and a Category 5 failure every
6. Assume that a company decides to characterize an acceptable risk as a Category 1 failure every 100 years and a Category 5 failure every 1300 years. Are the following scenario acceptable or not: (30% marks) a) Category 4 every 700 years b) Category 2 every 500 years c) Category 3 every 900 years d) What would you do to move the unacceptable scenarios into the acceptable region? e) Was the analysis method used in this problem acceptable? Why?
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