Consider a gizmo with a reliability

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Reference no: EM1386438

Consider a gizmo with a reliability of 94.8%. If the gizmo fails, it will cost the company $1100 and the expected failure cost per part = $57.2.

On each part, a backup can be installed for $30, and has a reliability of 50%. Should the company install the backup?

Reference no: EM1386438

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