Basics of Reliability

Ajit Kumar Verma (), Srividya Ajit () and Hari Prasad Muruva ()
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Ajit Kumar Verma: Stord/Haugesund University College
Srividya Ajit: Stord/Haugesund University College
Hari Prasad Muruva: BARC

Chapter Chapter 2 in Risk Management of Non-Renewable Energy Systems, 2015, pp 19-71 from Springer

Abstract: Abstract In today’s competitive world reliability has become a major concern in almost all the industries. Reputation of a company is very closely associated with the reliability of its products. The more reliable a product is, the more likely the company is to have a favorable reputation. The reliability of a product also affects the customer satisfaction. An unreliable product will affect customer satisfaction severely. When it comes to the customer satisfaction quality of the product also matters. At this point one should understand the difference between quality and reliability. Quality of a product is the degree of conformance to applicable specifications and it is dependent on the manufacturing process. Whereas reliability is maintaining the quality of a product over some period of time.

Keywords: Continuous Random Variables; Hazard Rate Function; Probability Density Function; Reliability Function; Mean Time To Failure (MTTF) (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssrchp:978-3-319-16062-7_2

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DOI: 10.1007/978-3-319-16062-7_2

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