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In: Economics

the lifetimes of its tires follow a normal distribution with mean 48,000 miles and standard deviation...

the lifetimes of its tires follow a normal distribution with mean 48,000 miles and standard deviation 5,000 miles.

·a well-labeled sketch of this normal distribution

·the z-score corresponding to 55,000 miles

·the probability that a randomly selected tire lasts for more than 55,000 miles

·the manufacturer wants to issue a guarantee so that 99% of its tires last for longer than the guaranteed lifetime, what z-score should it use to determine that guaranteed lifetime

·the manufacturer wants to issue a guarantee so that 99% of its tires last for longer than the guaranteed lifetime, how many miles should it advertise as its guaranteed lifetime

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Rahul Sunny answered 1 year ago
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