The owner of an electronic store has read an advertisement from a local competitor that guarantees...
The owner of an electronic store has read an advertisement from a local competitor that guarantees all high-definition television (HDTV) repairs within four days. Based on his company's experience, he wants to know if he can offer a similar guarantee. His past service records are used to determine the probability distribution shown to the right.
| # of Days | Probability |
| 1 | 0.13 |
| 2 | 0.24 |
| 3 | 0.24 |
| 4 | 0.25 |
| 5 | 0.14 |
a. The mean is _______ days. (Type the entire number, do not round.)
b. The standard deviation is ______ days. (Round to four decimal places as needed.)
c. Based on the calculations in parts a and b and the distribution, can the manager offer the same warranty? He could only offer it if there is a 80% probability or less that he won't violate the warranty. Write Yes or No.
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The owner of an electronic store has read an advertisement from
a local competitor that guarantees...
The owner of an electronic store has read an advertisement from a local competitor that guarantees...
The owner of an electronic store has read an advertisement from a local competitor that guarantees all high-definition television (HDTV) repairs within four days. Based on his company's experience, he wants to know if he can offer a similar guarantee. His past service records are used to determine the probability distribution shown to the right. # of Days Probability 0.13 1 2 0.24 3 0.24 4 0.25 5 0.14 a. The meanis 3.03 days. (Type the entire number, do not...
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The owner of an electronic store has read an advertisement from a local competitor that guarantees all high-definition television (HDTV) repairs within four days. Based on his company's experience, he wants to know if he can offer a similar guarantee. His past service records are used to determine the probability distribution shown to the right. # of Days Probability 0.13 1 2 0.24 3 0.24 4 0.25 5 0.14 a. The meanis 3.03 days. (Type the entire number, do not...
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