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The overall performance of a component is determined by aggregating the results of LAMs of the subcomponents and treating them in a way that produces an integrated probability of failure.
These results can then be combined at the levels of subsystem and system, but this is beyond the scope of this discussion.
Lifetime Prediction, Roger W. Staehle, Adjunct Professor, Department of Chemical Engineering and Materials Science, University of Minnesota, Staehle Consulting Co.