The purpose of the present paper is to study the stochastic analysis of a master slave system having one master unit, one slave unit and one working unit. Initially all the units are operating. Whenever master unit fails system fails completely but if slave unit fails it operates partially. The failure time distribution of all the operating units are assumed to be negative exponential while as repair time distributions are taken to be arbitrary. There is a single repair facility which repairs the unit on first come first serve basis but priority in repair is given to master unit. Various reliability characteristics are obtained in order to analyze the expected profit earned by the system. Also, a consistent asymptotically normal (CAN) estimator, a 100(1-
Reliability, Availability, Mean time to system failure, Maximum likelihood estimator