In Quest of the Distributional Properties of Reliability Rate
Reliability in its broad sense refers to the probability that a component or system is able to perform its intended function satisfactorily during a specified period of time under normal operating conditions. It is estimated as the fraction of time the unit/system is available for operation. For practical purposes, reliability rate is estimated using maximum likelihood estimator (MLE) from sample observations.. No study has gone beyond this to analyze the statistical properties of the MLE of R; the present study is an attempt at such a quest.
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