Question: Two alternative options are available for a pump selection in a process unit. The first pump has a unit cost of $840 and a Weibull

Two alternative options are available for a pump selection in a process unit. The first pump has a unit cost of $840 and a Weibull distribution of =2 and =10,000 hours. The other pump has unit cost of $870 and an exponential distribution with an MTTF of 10,000 hours. The system has an expected lifetime of 15 years with 2,000 operating hours per year. It is assumed that any failure in these pumps will result in the same replacement cost. Which pump should be selected based on a 3% interest rate

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