1. 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)

1. Category 4 every 700 years
2. Category 2 every 500 years
3. Category 3 every 900 years
4. What would you do to move the unacceptable scenarios into the acceptable region?
5. Was the analysis method used in this problem acceptable? Why?