= 2 and 0 5.6419 year. The failure distribution of your new $500 tablet is Weibull...

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= 2 and 0 5.6419 year. The failure distribution of your new $500 tablet is Weibull with = Assume that the unit cannot be repaired but must be replaced on failure. = 1. A 12-month warranty is available. Compute the probability of a failure occurring during the first year. 2. You got by your first year without a failure. You can now extend your warranty for another 12 months. What is the probability of failure the second year given that your tablet did not fail the first year? 3. The first year warranty costs $50 and the second year follow-up warranty costs $60. Compute the expected value (savings) of having the first and second-year warranty and compare with the warranty costs to determine whether the first and second year warranties should be purchased. 4. Suppose the second-year warranty can only be purchased if the first-year warranty has been purchased. On the basis of the probability of a failure occurring over the first two years and the total cost of the two warranties, decide whether both should be purchased. = 2 and 0 5.6419 year. The failure distribution of your new $500 tablet is Weibull with = Assume that the unit cannot be repaired but must be replaced on failure. = 1. A 12-month warranty is available. Compute the probability of a failure occurring during the first year. 2. You got by your first year without a failure. You can now extend your warranty for another 12 months. What is the probability of failure the second year given that your tablet did not fail the first year? 3. The first year warranty costs $50 and the second year follow-up warranty costs $60. Compute the expected value (savings) of having the first and second-year warranty and compare with the warranty costs to determine whether the first and second year warranties should be purchased. 4. Suppose the second-year warranty can only be purchased if the first-year warranty has been purchased. On the basis of the probability of a failure occurring over the first two years and the total cost of the two warranties, decide whether both should be purchased.

Answer rating: 100% (QA)

SOLUTION To solve the given problems well use the properties of the Weibull distribution and the concept of cumulative distribution function CDF The CDF of the Weibull distribution is given by CDFx 1 ... View the full answer