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Mathematics, 22.04.2021 23:10 princess6039
An actuary for a medical device manufacturer initially models the failure time for a particular device with an exponential distribution with mean 4 years. This distribution is replaced with a spliced model whose density function: i) is uniform over [0, 3] ii) is proportional to the initial modeled density function after 3 years iii) is continuous Calculate the probability of failure in the first 3 years under the revised distribution
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An actuary for a medical device manufacturer initially models the failure time for a particular devi...
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