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A machine needs 2 of its gears replaced. You find 2 gears, one manufactured 5 years ago and the other manufactured 10 years ago. The specifications sheet says that the chance of failure is 5% after 5 years and increases to 8% after 10 years. If the gears on the machine are in no way linked to each other, what are the chances that both will fail?
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Since both gears are "expired", so the respective probabilities of failure are 5% for one, and 8% for the other. The probability of both independent events succeeding (i.e. failing) is the product of their probabilities.
They are both expired so the older they get the more they will fail.
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