Correct Answer - Option 3 : Both 1 and 2
The ability of a component to work as per the specifications for a particular time interval is called its reliability. Theoretically, it is defined as the probability of success. Reliability analysis is applied at the design stage and helps in maintaining during various failure stages.
The reliability analysis is recorded and the maintenance engineer works out on the basis of statistical data present about the poor performance of equipment and helps him identify the damage zone. This way Reliability analysis records support the maintenance engineer in improving the performance of the product under service.
Hence both the statements are true.