Question
In: Statistics and Probability
A tire manufacturer warranties its tires to last at least 20 comma 000 miles or "you...
A tire manufacturer warranties its tires to last at least 20 comma 000 miles or "you get a new set of tires." In its experience, a set of these tires last on average 28 comma 000 miles with SD 5 comma 000 miles. Assume that the wear is normally distributed. The manufacturer profits $200 on each set sold, and replacing a set costs the manufacturer $400. Complete parts a through c.
(a) What is the probability that a set of tires wears out before 20 comma 000 miles? The probability is nothing that a set of tires wears out before 20 comma 000 miles. (Round to four decimal places as needed.)
(b) What is the probability that the manufacturer turns a profit on selling a set to one customer? The probability is nothing that the manufacturer turns a profit on selling a set to one customer. (Round to four decimal places as needed.)
(c) If the manufacturer sells 500 sets of tires, what is the probability that it earns a profit after paying for any replacements? Assume that the purchases are made around the country and that the drivers experience independent amounts of wear. The probability is nothing that the manufacturer earns a profit after paying for any replacements on 500 sets of tires. (Round to four decimal places as needed.)
Solutions
orchestra answered 1 year agoRelated Solutions
A tire manufacturer claims its tires will last for 80,000 miles on average when properly maintained....
A tire manufacturer claims its tires will last for 80,000 miles
on average when properly maintained. To investigate this claim, a
retail tire store has surveyed 49 recent customers of that
particular tire and determined those tires lasted for an average of
77,470 miles. The population standard deviation is known to be
7,700 miles. Compute the value of the appropriate test statistic to
test this claim.
Enter your answer as a decimal rounded to two places. Indicate a
negative value...
A tire manufacturer produces tires that have a mean life of at least 25000 miles when...
A tire manufacturer produces tires that have a mean life of at
least 25000 miles when the production process is working properly.
The operations manager stops the production process if there is
evidence that the mean tire life is below 25000 miles.
The testable hypotheses in this situation are
?0:?=25000H0:μ=25000 vs ??:?<25000HA:μ<25000.
1. Identify the consequences of making a Type I error.
A. The manager does not stop production when it is
not necessary.
B. The manager stops production when...
A tire manufacturer produces tires that have a mean life of at least 32500 miles when...
A tire manufacturer produces tires that have a mean life of at
least 32500 miles when the production process is working properly.
The operations manager stops the production process if there is
evidence that the mean tire life is below 32500 miles.
The testable hypotheses in this situation are
?0:?=32500H0:μ=32500 vs ??:?<32500HA:μ<32500.
1. Identify the consequences of making a Type I error.
A. The manager stops production when it is
necessary.
B. The manager stops production when it is not...
A tire manufacturer produces tires that have a mean life of at least 30000 miles when...
A tire manufacturer produces tires that have a mean life of at
least 30000 miles when the production process is working properly.
The operations manager stops the production process if there is
evidence that the mean tire life is below 30000 miles. The testable
hypotheses in this situation are ?0:?=30000 H 0 : μ = 30000 vs
??:?<30000 H A : μ < 30000 .
1. Identify the consequences of making a Type I error. A. The
manager does not...
A tire manufacturer claims that the life span of its tires is 52,000 miles. Assume the...
A tire manufacturer claims that the life span of its tires is
52,000 miles. Assume the life spans of the tire are normally
distributed. You selected 16 tires at random and tested them. The
mean life span of the sample is 50,802 miles. The tires had a
population standard deviation, σ = 800. Use the .05 level of
significance. a) Which distribution would be indicated? b) Explain
why you chose that distribution. c) Construct a confidence interval
for the mean...
A manufacturer of a certain type of tires claims that their tire lifetime is 30,000 miles....
A manufacturer of a certain type of tires claims that their tire
lifetime is 30,000 miles. The Bureau of Consumer Protection wants
to conduct an preliminary investigation on this claim.
a. If the true lifetime is only 29,000 miles, what is the chance
that the Bureau won’t be able to detect such difference with data
only on 16 tires? Assume that the SD of all tire lifetimes is about
1,500 miles.
b. How many tires should the Bureau test on...
tire manufacturer claims that the life span of its tires is 60,000 miles. Assume the life spans of the tire are normally distributed.
tire manufacturer claims that the life span of its tires is 60,000 miles. Assume the life spans of the tire are normally distributed. You selected 25 tires at random and tested them. The mean life span of the sample is 58,800 miles. The tires had a sample standard deviation, s = 600. Use the .10 level of significance.
Which distribution would be indicated?
Explain why you chose that distribution.
Construct a confidence interval for the mean using the above data....
A particular brand of tires claims that its deluxe tire averages at least 50,000 miles before...
A particular brand of tires claims that its deluxe tire averages
at least 50,000 miles before it needs to be replaced. From past
studies of this tire, the standard deviation is known to be 8,000.
A survey of owners of that tire design is conducted. From the 28
tires surveyed, the mean lifespan was 46,500 miles with a standard
deviation of 9,800 miles. Using alpha = 0.05, is the data highly
inconsistent with the claim?
Find the 95% confidence interval...
A particular brand of tires claims that its deluxe tire averages at least 50,000 miles before...
A
particular brand of tires claims that its deluxe tire averages at
least 50,000 miles before it needs to be replaced. From past
studies of this tire, the standard deviation is known to be 8000. A
survey of owners of that tire design is conducted. From the 28
tires surveyed, the mean lifespan was 46,500 miles with a standard
deviation of 9800 miles. Do the data support the claim at the 5%
level?
74. A particular brand of tires claims that its deluxe tire averages at least 50,000 miles...
74. A particular brand of tires claims that its deluxe tire
averages at least 50,000 miles before it needs to be replaced. From
past studies of this tire, the standard deviation is known to be
8,000. A survey of owners of that tire design is conducted. From
the 28 tires surveyed, the mean lifespan was 46,500 miles with a
standard deviation of 9,800 miles.
Using alpha = 0.05, is the data highly inconsistent with the
claim?
In other words, is...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- In two or three sentences, explain how you have seen the concept of grit work in...
- You have invested 30 percent of your portfolio in Jacob, Inc., 40 percent is Bella Co.,...
- Parallel Arrays This question is in MindTap Cengage Summary In this lab, you use what you...
- 5. You have invested 30 percent of your portfolio in Jacob, Inc., 40 percent is Bella...
- JAVA Write a test program that prompts the user to enter a series of integers and...
- (2) Cite an example on how organizations like Google, Facebook, Youtube etc collect data for image...
- The legal landscape is perpetually changing. Psychologists must remain abreast of these changes to avoid potentially...
ADVERTISEMENT