Essay
A component must have reliability of .9925.Two technologies are available for this component: one produces a component with .999 reliability at a cost of $2000.Another produces a component with .73 reliability at a cost of $450.Which is cheaper: one high quality component or a parallel set of inferior components? (Hint: for the inferior components,you first need to determine the number of them that would be needed to ensure overall reliability of .9925. )
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