Suppose that five components are functioning simultaneously, that the lifetimes of the components are i i d , and that each lifetime has the exponential distribution with parameter Let T1 denote the time from the beginning of the process until one of the components fails and let T5 denote the total...

We can express T5 as T1 V where V is the time required after one of the co ...

Suppose that five components are functioning simultaneously, that the lifetimes of the components are i.i.d., and that

Question:

Suppose that five components are functioning simultaneously, that the lifetimes of the components are i.i.d., and that each lifetime has the exponential with parameter β. Let T1 denote the time from the beginning of the process until one of the components fails; and let T5 denote the total time until all five components have failed. Evaluate Cov(T1, T5).
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...