Need help with a question guys, any help will be most appreciated.
The age of a machine, x, in years, is related to the probability of breakdown, y, by the formula:
x = 3 + ln(y/1-y)
Determine the probability of breakdown for 1, 3 and 10 years.
Where do I start with this one?
It has got me a bit stumped guys so any help would be most appreciated.