Consider an expensive part with a relablity of o7 2%. If the paAt falk, \& will cost the firm $11,000 a. What is the expected falure cost per part? The probabiky of talure is 1 (round your rosponse to two decimal places). The expecied falure cost per part is 4 (round your response fo the nearest penny). b. On each part a rathor unteliable backup can be instaled that has a relabily of just 25.00%. What is the maximum anount that the frm shouids be willing to pay per part to install tre bechup? The new probability of tature is k (round your response to two decimat places). The new expected cost of fallute is $ _ round your response to the nearest penving. The Erm should pay as much as i for the backup (cound your respense to the nearest pennyl e. Suppose that a second 25 cow relable backip part coult be instated, so that if both the original and the fint bschup part fait, then the second backup part will be used it that second backup pan eosts $100.00, should 7 be instsled? Suppot your anewer. The new probsbify of fatire is K Wround your retponse to tho decimar places). The new expecied cost of fallure is 1 pround your iespense fo the neavest pencrp. The firm ahound pay as much ast 1 for the backup (round your respanse io the nearest cencelf Shoudd the firm nstat the secont backip? Yes' No