A component has a constant hazard rate of 0.2. (a) What is the probability that the component is still operating at time 4.0? (b) What is the probability that the component fails before time 6.0?

Statistics: Ch. 1 Important Definitions • Statistics—Numerical description of data • Population—A set of all subjects or elements about which we are interested in making inferences • Frame—A list containing all members of a population o Very expensive to make, would just be names • Census—Data that’s gathered from the entire population o Things like average income, number of children et cetera • Parameters—Population parameters are facts abo