Reliability – Reliability and Decision Theory
Reliability refers to the probability that a product or service will perform as intended in ideal conditions. The higher the level of reliability, the better the product or service will do in the market.
Discuss a product that has a probability of working optimally 85% of the time.
- Would that be a product that would do well in the market?
- Discuss the circumstances that this would be an acceptable percentage.
- Discuss some things that the manufacturer could do to improve reliability.
- If the reliability of a product or service continues to remain lower than ideal or decline over time, discuss what will happen.
Discuss the concepts, principles, and theories from your textbook. Cite your textbooks and cite any other sources if appropriate.
- Your initial post should address all components of the question with a 500 word limit.
- Reply to at least two discussion posts and Dr. comment with comments that further and advance the discussion topic.
