The lifetime in months of a certain part has a gamma distribution with = =

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The lifetime in months of a certain part has a gamma distribution with α = θ = 2. A company buys three such parts and uses one until it fails, replacing it with a second part. When the latter fails, it is replaced by the third part. What are the mean and the variance of the total lifetime (the sum of the lifetimes of the three parts) associated with this situation?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Probability And Statistical Inference

ISBN: 579

9th Edition

Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman

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