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The product formula requires independent failure times. This assumption is not stated in the original PDF. Under that intended assumption, put $s=t/T$ and use the failure probabilities for two independent lifetimes:Its graph is a cubic increasing from $(0,0)$ to $(T,1)$, convex before reaching its plateau.

Without independence, the marginal distributions do not determine $P(t)$. The Fréchet inequalities give the sharp pointwise boundsFor example, taking $t_1=TU$ and $t_2=T\sqrt{U}$ with the same uniform random variable $U$ preserves both prescribed marginals but gives $P(t)=s^2$, rather than $s^3$.