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Calculate the number of spares

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Reference no: EM133203342

Suppose you are examining two components which have the same failure rate of 0.02/day. Component inventory can be replenished every 30 days. And you want to calculate the number of spares required to keep in inventory so that the probability of having sufficient spares on hand was ≥ 0.95. In other words, how many spares should you order each 30 day period?

Reference no: EM133203342

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