Step 1 :Integrate the probability density function from 0 to 1: \(P(T \leq 1) = \int_{0}^{1} 0.4 e^{-0.4 t} dt\)
Step 2 :Calculate the integral: \(P(T \leq 1) = 1 - e^{-0.4}\)
Step 3 :Find the probability that a component continues to work after one year: \(P(T > 1) = e^{-0.4}\)
Step 4 :Use the binomial probability formula to find the probability that at least 3 of the 5 components continue to work after one year: \(P(X \geq 3) = \sum_{k=3}^{5} \binom{5}{k} (e^{-0.4})^k (1 - e^{-0.4})^{5-k}\)
Step 5 :Calculate the probability: \(P(X \geq 3) = 0.7955060486218658\)
Step 6 :\(\boxed{\text{i) } P(T \leq 1) = 0.33}\)
Step 7 :\(\boxed{\text{ii) } P(X \geq 3) = 0.7955}\)