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A machine has a power source that has a reliability (probability of not failing) of 0.909. It also has a backup generator with a reliability
A machine has a power source that has a reliability (probability of not failing) of 0.909. It also has a backup generator with a reliability of 0.952. What is the probability that the machine goes down because both it's primary and backup power sources fail at the same time? Enter your answer as a decimal to 4 decimal places
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
