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Suppose, for simplicity, that three main parts of a laptop are CPU, RAM, and hard drive;so if one of theses components fails, the laptop fails. Assume that the life times of CPU, RAM, andhard drive are exponentially distributed with mean 3 years, 2 years, and 5 years, respectively. If thecompany that sells these laptops guarantees the replacement of any laptops that fail in the first year, anda replacement costs $500, what would be the average yearly replacement cost

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Suppose, for simplicity, that three main parts of a laptop are CPU, RAM, and hard drive;so if one of...
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