Risk Analysis of Apparatus, Devices, Systems and Machines Failure.

In this paper we study a general failure that may occur with a certain probability, and its danger may in any way affect the health and functionality of an individual. We introduce the concept of value of risk and further important formulas to this related. Unlike previous papers we use a rather new concept with logarithmic dependence in risk calculation which is accurate and convenient in many situations. In the main part of this paper we derive important relations and results related to this value of risk. All this is illustrated by graphs and tables with important values of the appropriate quantities. [ABSTRACT FROM AUTHOR]