Correct Answer: DAnalysis of data on all product returns is crucial for several reasons, encompassing diverse aspects of product performance and customer interactions. Firstly, failure rates indeed change with the length of product usage, making it necessary to monitor them over time to understand and address potential issues. Secondly, changes in product design and customer usage patterns are often reflected in return data, offering insights that can guide further improvements. Lastly, having immediate feedback and analysis of returned products enables companies to respond promptly to any performance issues, enhancing overall product quality and customer satisfaction. Therefore, all three statements (I, II, and III) are correct and justify the importance of analyzing data on all product returns.