MTR (Mean Time to Repair): This is the time it takes the carrier to restore service to a given citrcuit upon an outage. They will likely give this information as an average over a given time period. Be careful to question if the MTR clock continues to count up when thay pass a ticket off to a local LEC for action. We had a carrier stae an MTR on one circuit as 4 hours, when it was out of service for two days. They stopped the clock when they passed the trouble down to the LEC for site issues. As long as the circuit is down, whether it is a carrier issue or LEC issue, the MTR clock should run. The only time the clock should stop is if the issue is resolved, or the carrier parks the ticket awaiting customer (you) action.
MTF (Mean Time between Failures): This is an average of time between failures of major circuits, or one particular circuit. I would ask about the carrier's major switches, redundant paths, etc. An MTR of one hour is great, but not if a circuit fails once a week.
I hope this helps.