GMS 401 Lecture Notes - Lecture 3: Standard Deviation, Exponential Distribution, Preventive Maintenance

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Robert Meiklejohn

Document Summary

Is a measure of the ability of a product, part, or system to perform its intended function under a prescribed set of conditions over a period. A situation in which the product or service does not perform as intended. Either substandard performance or failure to perform at all. E. g. given that an item has a reliability of . 90. It thus has a 90% or . 90 probability of functioning as intended. The probability that this item will fail is 100-90 = 10% or 1. 00 - . 90 = . 10. Similarly a reliability of . 985 implies an average of 15 failures per. The probability that the product or system will function when activated. This focuses on one point in time. Used when a system must operate for one time or a relatively. The probability that the product or system will function for a given length of time. This focuses on the length of service.