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Paul Avery, senior product training engineer with the Drives & Motion Division of Yaskawa America (www.yaskawa.com), explains commonly used lifecycle cost terminology:
MBTF must be determined based on a period of time when the failure rate has stabilized. In practice, this means eliminating failures due to the initial infant mortality and final wear-out portions of the bathtub failure rate curve (Figure 2,). This stabilized failure rate is sometimes referred to as an exponentially distributed failure rate. MTBF enters the picture as a factor in calculating LCC because it can be inferred that the greater the MTBF, the lower the LCC.