Question

A bank loan processing system has three components with individual reliabilities as shown: R1 = 0.84...

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?

Homework Answers

Answer #1

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.

********

IF YOU HAVE ANY DOUBT, KINDLY COMMENT. I WOULD LOVE TO HELP YOU!!!

IF YOU LIKE THE ANSWER, PLEASE GIVE AN UP-VOTE OR THUMB UP. THIS WILL ENCOURAGE ME TO ANSWER MORE!!

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A medical control system has three components in series with individual reliabilities: (R1, R2, and R3)...
A medical control system has three components in series with individual reliabilities: (R1, R2, and R3) as shown, and these components are working independently. In order for this medical control system to function properly in a given situation, each of the components must function. What is the reliability of this proposed system? (20 points) R1 R2 R3 0.80 ↓ 0.925 0.85 ↓ ↓ → 0.95 → 0.90 → 0.99
A factory line has three lathe processing stations 1, 2, and 3, with reliabilities of 0.99,...
A factory line has three lathe processing stations 1, 2, and 3, with reliabilities of 0.99, 0.96, and 0.93, respectively. The lathe stations are arranged so that if one breaks down, the others will stop working as well. To increase the reliability of the production line managers are experimenting two different plans. Plan A involves adding an identical backup line in series layout, and plan B is to provide backup in parallel layout for each machine. In either case, three...
The Fraud Triangle LO 5-2 Explain the components of the Fraud Triangle. Donald R. Cressey, a...
The Fraud Triangle LO 5-2 Explain the components of the Fraud Triangle. Donald R. Cressey, a noted criminologist, is mostly credited with coming up with the concept of a Fraud Triangle. Albrecht points out that, while researching his doctoral thesis in the 1950s, Cressey developed a hypothesis of why people commit fraud. He found that trusted persons become trust violators when they conceive of themselves as having a financial problem that is nonsharable, are aware that this problem can be...
We constantly seem to be pricing ourselves out of some markets and not charging enough in...
We constantly seem to be pricing ourselves out of some markets and not charging enough in others. Our pricing policy is pretty simple: we mark up our full manufacturing cost by 50%. That means a computer that costs us $2,000 to manufacture will sell for $3,000. Until now I thought this was a workable approach, but now I’m not so sure. Steve Works, CEO, Cortland Manufacturing, Inc. (CMI) Steve’s Controller, Sally Nomer, had just told him that she believed the...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...