A bank loan processing system has three components with individual reliabilities as shown:
R1 = 0.84
R2 = 0.950
R3 = 0.98
Round answers 3 decimal places
What is the reliability of the bank loan processing system? .782
What would be the reliability of the bank system above if each of the three components had a backup with a reliability of 0.80?
How would the total reliability be different?
Question – a:
As all are in series (as question mentions that all are independent), the system reliability
R = R1*R2*R3
= 0.84*0.95*0.98
= 0.78204
Answer is: 0.782
Question – b:
Now each component has a backup with reliability 0.80
So first component combined reliability (with backup) = 1 – (1-R1)*(1-Rbackup) = 1 – (0.16)*(0.20)
= 1 – 0.032
= 0.968
Similarly, the combined reliability of second component = 1 – (0.05)*(0.2) = 1 – 0.01 = 0.99
The combined reliability of third component = 1 – (0.02)*(0.2) = 1 – 0.004 = 0.996
Now, the combined reliability of the whole system = 0.968*0.99*0.996 = 0.954
Answer is: 0.954
Question – c:
The reliabilities are different as in Q-b, there exists a backup component to work when the main component is in failure state, which eventually increases the reliability to a large extent.
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