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The time T between breakdowns of major equipment in a construction project is defined by a lognormal distribution with a median of 6 months and
The time T between breakdowns of major equipment in a construction project is defined by a lognormal distribution with a median of months and a coefficient of variation,
The equipment is considered operational if it does not suddenly breakdown earlier before its supposed inspection. As the project manager, you want to ensure that there is a probability that the equipment will be operational at any time.
If the equipment is in operational condition at the time it is scheduled for regular maintenance and inspection, what is the probability that it will remain operational without breakdowns for another months? Express your answer to the nearest hundredths.
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