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A lifetime test is carried out on a particular type of componentA total of 15 components are observed, with failure times observed from t = 0 until t = 50.Ten components fail during this interval.The respective failure times are as follows:5.3, 5.1, 9.4, 6.9, 3.7, 5, 6, 8.8, 9.9, 7.7.The failure times are assumed to be iid Exponential with hazard rate λ.Determine the maximum likelihood estimate lambda.(Give answers to 3 decimal places)

Question

A lifetime test is carried out on a particular type of componentA total of 15 components are observed, with failure times observed from t = 0 until t = 50.Ten components fail during this interval.The respective failure times are as follows:5.3, 5.1, 9.4, 6.9, 3.7, 5, 6, 8.8, 9.9, 7.7.The failure times are assumed to be iid Exponential with hazard rate λ.Determine the maximum likelihood estimate lambda.(Give answers to 3 decimal places)

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Solution

The maximum likelihood estimate (MLE) of the hazard rate λ for an exponential distribution is the reciprocal of the sample mean.

First, calculate the sample mean of the failure times:

(5.3 + 5.1 + 9.4 + 6.9 + 3.7 + 5 + 6 + 8.8 + 9.9 + 7.7) / 10 = 6.78

Then, calculate the MLE of λ as the reciprocal of the sample mean:

λ = 1 / 6.78 = 0.147

Therefore, the maximum likelihood estimate of λ is 0.147 (correct to 3 decimal places).

This problem has been solved

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