Reliability is the probability that an asset, component, or system will perform a required function without failure for a given amount of time within the parameters of its stated operating condition. It is a measure of the frequency of equipment failures.

Reliability is commonly measured using the Mean Time Between Failure (MTBF) metric. To calculate reliability, divide the run time by the number of failures within the timeframe.

Mean Time Between Failure (MTBF) formula

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