What is Failure Rate?

Failure rate is defined as the number of failures per unit of time. The failure rate is usually specified as numbers of failure per million hours (e.g. 2.98 failures/1E06 hours).

Some engineer prefer to use ‘MTBF’ term which is a reciprocal of failure rates and has unit in years (e.g. 38 years)

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any ratings for failure rate for measurement instrument?