An electrical controlled machine system contains 4000 ICs and the present policy is to replace an...

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An electrical controlled machine system contains 4000 ICs and the present policy is to replace an IC as and when it fails. The average cost of replacing one IC is $ 100. If all the ICs are replaced under maintenance policy, the average cost of IC comes down to $ 50. Depending on the data below. 1. Compute the associated costs. 2. If individual or group replacement policy can be followed, which policy should be adopted and why.? Year 1 2 3 4 5 6 Probability of failure during the year 0.04 0.06 0.25 0.30 0.15 0.2 An electrical controlled machine system contains 4000 ICs and the present policy is to replace an IC as and when it fails. The average cost of replacing one IC is $ 100. If all the ICs are replaced under maintenance policy, the average cost of IC comes down to $ 50. Depending on the data below. 1. Compute the associated costs. 2. If individual or group replacement policy can be followed, which policy should be adopted and why.? Year 1 2 3 4 5 6 Probability of failure during the year 0.04 0.06 0.25 0.30 0.15 0.2