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[Solution Library] The Mean time between failures (MTBF) of a hydraulic press is to be estimated assuming that the time between failures (TBF) is exponentially

Question: The Mean time between failures (MTBF) of a hydraulic press is to be estimated assuming that the time between failures (TBF) is exponentially distributed. A foreman observes that the chance that the TBF is more than 72 hours 50% , and he quotes 72 hours as the MTBF.

  1. Is the foreman right? If not, what is the MTBF?
  2. If the MTBF is indeed 72 hours, 50% of the time the TBF will be more than how many hours?
  3. Why is the mean of and exponential distribution larger than its median?

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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