A certain company produces 22,000 tables per year in a three-step process. The three steps in the process employ
machines with the reliabilities listed here:
Step A – 0.989 Step B – 0.977 Step C – 0.905
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The company can choose to buy a back-up machine for Step C for an additional $30,000. The back up would also have a reliability of 0.905, just like the one that is presently used. If they decide to get this back-up machine, what will the new reliability of the system be? Assume that once a machine malfunctions, the process continues to produce product, acceptable and defective. Use THREE decimal places in you calculations.
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