A component that is critical to the correct functioning of a power plant must be replaced immediately when it fails. Suppose that the lifetime of these components are independent random variables with mean 5 hours and variance 25 hours. We will assume that only this component can fail on the plant, and the time to replace a defective component is negligible if a new one is available in stock. (a) On average, for many hours can the plant operate without inter- ruption if it has 100 such components in stock. (b) How many components is needed in stock so that the probability that the plant runs continuously for 2,000 hours is at least 0.95?

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A component that is critical to the correct functioning of a power plant must be replaced immediately when it fails. Suppose that the lifetime of these components are independent random variables with mean 5 hours and variance 25 hours. We will assume that only this component can fail on the plant, and the time to replace a defective component is negligible if a new one is available in stock.
(a) On average, for many hours can the plant operate without inter- ruption if it has 100 such components in stock.
(b) How many components is needed in stock so that the probability that the plant runs continuously for 2,000 hours is at least 0.95?
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