Q123Section III (Statistics)123 of 190
Group replacement of bulbs: the printed costs make one week optimal
The following failure rates have been observed for certain type of light bulbs:
If the cost of failure replacement is Rs. 20 per bulb and the cost of group replacement is Rs. 500, what is the optimal replacement interval? (Assume that the group has 1000 bulbs.)
Pick an option to check your answer.