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A machine has a failure pattern like curve in Figure below. The MTBF is 24 months. To prevent failure, an overhaul must be done every 18 months. Suppose the downtime and repair cost of failure is $6,000; the cost of overhaul is $2,000. a. Assuming it is done every 18 months, is the overhaul cost effective? (5 pts) b. Assume that daily PM (annual cost: $1,200) extends the MTBF of the machine to 3 years. If everything else remains the same, is the PM cost effective? (10 pts) h(t) Useful life Working age t Optimal PM interval A machine has a failure pattern like curve in Figure below. The MTBF is 24 months. To prevent failure, an overhaul must be done every 18 months. Suppose the downtime and repair cost of failure is $6,000; the cost of overhaul is $2,000. a. Assuming it is done every 18 months, is the overhaul cost effective? (5 pts) b. Assume that daily PM (annual cost: $1,200) extends the MTBF of the machine to 3 years. If everything else remains the same, is the PM cost effective? (10 pts) h(t) Useful life Working age t Optimal PM interval