Answer: the probability that the tires will fail within three years of the date of purchase is 0.12
Step-by-step explanation:
The average lifetime of a set of tires is 3.4 years. It means that μ = 3.4
Decay parameter, m = 1/3.4 = 0.294
The probability density function is
f(x) = me^-mx
Where x is a continuous random variable representing the time interval of interest(the reliability period that we are testing)
Since x = 3 years,
Therefore, the probability that the tires will fail within three years of the date of purchase is
f(3) = 0.294e^-(0.294 × 3)
f(3) = 0.294e^- 0.882
f(3) = 0.12
