From the course: Everyday Statistics, with Eddie Davila

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Reliability

Reliability

From the course: Everyday Statistics, with Eddie Davila

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Reliability

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- [Instructor] You're thinking about hiring someone, but in this job, they must be on time. If I told you this person was 99% reliable, what would that mean to you? Perhaps, that over the next 100 days of work, they would only be late once. That's sort of the way reliability is measured. The probability that something works, the way it's supposed to work. Probability? That sounds like it might utilize statistics. But how do you come up with the reliability of something that has many parts each with their own reliability? Well, here's the formula for reliability. Reliability is measured by multiplying the individual reliabilities of each component. For those of you with some statistics skills, this formula probably makes a lot of sense. So, if a machine has four interlocking parts that must all work together and the reliability of the four parts are as listed, then the reliability of the machine is about 82%. Not very good. 18% of the time, this machine will be broken because it only…

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