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How Electronics Equipment Aging is determined?

I visited a telecom company recently for educational purpose and they told me that they installed some new system and then they told me the equipment will be End of Service after 5 years. I was wondering that how the electronics equipment's age is calculated. If I strictly explain my confusion then it will be like 4 small questions as below:-

1) How the transistors/Diodes age is determined and what factors are counted on the single transistor/Diode age ?
2) How we can calculate the aging of the other basic electronics equipment such as inductor, capacitor, resistor to publish it ?
3) How the reliability of these components is calculated ?
4) The final age is the least age of components in the system.

I know folks this topic is Broad topic therefore the pin point answer may not be possible so if any one can give me some heads up to start or guide me to some book/links or any other content or search engine key word where I can study and have this knowledge and information.

Many Thanks
 
"End of Service after 5 years" is for accountants, and means that the equipment is paid for after 5 years.

The equipment might last 25 years if it still serves a useful purpose, or maybe 2 years if new technology makes it obsolete.

Nothing to do with component reliability.
 
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