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Failure Rate
Failure rate is the frequency with which an engineered system or component fails, expressed, for example, in failures per hour. It is often denoted by the Greek letter λ (lambda) and is important in reliability engineering. The failure rate of a system usually depends on time, with the rate varying over the life cycle of the system. For example, an automobile's failure rate in its fifth year of service may be many times greater than its failure rate during its first year of service.
