Solved: Continuation of Exercise 4-214. Rework parts (a)

Chapter 4, Problem 216SE

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QUESTION:

Continuation of Exercise 4-214. Rework parts (a) and (b). Assume that the lifetime is a lognormal random variable with the same mean and standard deviation.

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QUESTION:

Continuation of Exercise 4-214. Rework parts (a) and (b). Assume that the lifetime is a lognormal random variable with the same mean and standard deviation.

ANSWER:

Step 1 of 6

Given,

The mean,

The standard deviation,

It’s said to assume that the lifetime is a lognormal random variable with the same mean and standard deviation.

The Mean of Lognormal Distribution is,

The Variance of Lognormal Distribution is,

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