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Watch the following video for ideas regarding certain “things” and their failure calculation

Watch the following video for ideas regarding certain “things” and their failure calculation

No product or service lasts forever, but how do we determine or project when a particular item may fail and why is this important? 

Watch the following video for ideas regarding certain “things” and their failure calculations:

Relate these concepts to your work experience and provide an example of a product or service that the company sold or supported. How did they calculate failure rates?