
Cristian M. answered 03/10/21
MS Statistics Graduate with 5+ Years of Tutoring Experience
Let X refer to the time-to-failure of a panel. We can write X~Exponential(8). As 8 is the mean, then we can say λ = 1/8. The PDF of this distribution is f(8, t) = (1/8)e-(1/8)t, and integrating with respect to t gets the CDF, which is F(t) = -e-(1/8)t. As we want to know the probability of failure in the first 8 years, evaluate P(X ≤ 8) = F(8) - F(0), which is approximately 0.6321.
The probability of failure in the first 8 years is 0.6321.