A book on management science gives the equation

to determine N, the time until a particular part can be expected to need replacing. (λ and k are constants for a particular machine.) To find a useful approximate value for N when λN is near 0, go through the following steps.
(a) Find a Taylor polynomial of degree 2 at N = 0 for e^λN.
(b) Substitute this polynomial into the given equation and solve for N.

Transcribed Image Text:

e^N λ - N= N = 1 =+ k λ