It has been determined that a component is critical to plant operations, and you have been given the task of determining a time-based replacement policy*. a) A component fails according to the failure density distribution shown above. Compute the expected failure times (i. e. () under age-based replacement for = 0.2,0.4,0.6,0.8,1. b) If the cost of a preventive replacement is $100 and the cost of a failure replacement is $250, compute the optimal replacement age, . (

4.0 3.5 3.1 3.0 2.5 2.0 1.5 1.45 1.0 0.5 0.0 0.05 0.0 0 0.2 0.4 0.4 TIME (WEEKS)