The time to critical transformer failure has been determined

The time to critical transformer failure has been determined to follow the Weibull distribution with a mean lifetime of 40 years and a coefficient of variation equal to 0.4.

      a) Estimate the parameters of the Weibull distribution (use Goal Seek or Solver in Excel).

      b) What is the probability that a transformer of this type will actually survive for 40 years?

Solution