FIN 401 Midterm: Crib.pdf
22 Apr 2015
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Multifactor productivity = quantity produced @ standard price. Reliability of an item = (reliability of) (reliability of) (reliability of) There are 3 different ways to quantify reliability: success = the probability that 2 events occur {w/ no backup} Success = probability (a) x probability (b) = probability (ab: success = the probability that at least one of two events will occur {w/ backup} Success = probability (a) + [(1 probability (a)) x probability (b)] Item a = the probability of the event that must occur first. Item b = the probability of the event that must occur second: success = the probability that at least one of three events will occur {w/ backup & adding switch} Success = probability (a) + [(1 probability (a)) x probability (b)] + [(1 probability (a)) x (1 probability (b) x probability (c)] * mtbf is the inverse of a failure rate. Or it"s found on calculator under [ex] by putting t/mtbf as the x.
