What is the average total cost for the machine in the system

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Reference no: EM13262135

For one specific machine, the machine lifetime satisfies a Weibull Distribution with mean = 10 months and standard deviation = 3 months based on historical data analysis. The failed machine will be immediately replaced with a brand new one upon the failure and the replacement time is negligible. Each machine will cost $100,000 dollars and the system is designed to run for 5 years. By using the approximation of the renewal function, what is the average total cost for this machine in the system life cycle?

Reference no: EM13262135

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