ERCOT does fall under the authority of NERC and operates a reliability function, separate from its market function, in order to comply with NERC requirements.
2.
It can be defined with the aid of the reliability function, also called the survival function, R ( t ), the probability of no failure before time t.
3.
The term " reliability function " is common in engineering while the term " survival function " is used in a broader range of applications, including human mortality.
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