Reliability

Peter Kenny

Chapter Chapter 21 in Better Business Decisions from Data, 2014, pp 211-218 from Springer

Abstract: Abstract Statistics plays an important part in reliability studies but represents only a part of the mathematical theory involved. Reliability of a component, machine, or system can be defined as the probability that it will perform its required function in the desired manner under the operating conditions when it is required to so perform. Reliability, R, is thus a probability with a value between 0 and 1, 0 representing immediate failure and 1 representing the (impossible) situation of never suffering failure. The probability of failure is 1 – R.

Keywords: Mean Time To Failure (MTTF); Expected Service Lifetime; Wire Rope; Individual Failure Probabilities; Reliability Situations (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-1-4842-0184-8_21

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