The time to failure of a certain product is a continuous random variable with probability density functiongiven in attchment)
Where t is time to failure in years
The manufacturer of that product is considering to offer a warranty; however they are willing to replace only 1% of all the products they sell. How long a warranty period should they offer?
The question asking to find guarantee time \[T\] such that only 1% of the product failed before T. This means find
\[T\] such that \[P(\]fail at time \[t \leq T) \leq \frac{1}{100}\]
\[P(\]fail at time \[t \leq T) = \int_{0}^{T}F(t) dt = 0.01\]