For ths assignment you submit answers by queston parts. The number of submission

Question

For ths assignment you submit answers by queston parts. The number of submissions remaining each question part only dangesifyou submit or change the answer. Your best submission for each question part is used for your score. of arte orystal watches. Aocrotime researchers have shown that the watches have an average of 35 months before eertain electronic of Metimes is normal. months, and the distribution deviation of watch lifetimes components deteriorate, causing the watch to become unrelable. The standard Ca) Acerotime guarantees a full refund on any defective watch for 2 years after purchase, what percentage of total producton will the company expect to replace? (Round your answer to two decimal places.) (b) Accretime does not want to make refunds on more than of the watches makes, how long should the guarantee period be (to the nearest month)? Need Help? vew Provious Quosson Question 3 of 9 View Net Queation MacBook Air

Explanation / Answer

Solution:

For X~N(35, 6^2)
a) No refund if it is ok for at least 24 months, P{X>24} = P{Z>z},
where z = (24-35)/6 = 11/6 = - 1.83.
P{Z> -1.83} = 1 - P{Z< -1.83} = 1 - 0.0336. Or, % replaced, P{Z< -1.83} = 0.0336, 3%.

b) Now, you want P{Z < z} = 0.08, z = -1.405. But also, z = (x - 35)/6,
x = -8.43 +35
hence x = 26.57. Take 26 months.

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