Question

2. Suppose that the lifetime ? (measured in kilometers) of a certain type of shock absorber can be modeled as Lognormal with ? = 10.14 and ? = 0.53.

a. Compute ?(?) and ?(?). (Already Solved)

b. Randomly select 5 shock absorbers. Compute the probability that at most 1 of the 5 tires will last between 10000 and 20000 kilometers. Hint: Use a Binomial random variable.

c. Suppose that ? = 0.53. What should ? be so that the 10th percentile of all shock absorber lifetimes is 15000 kilometers?

I found E(X) to be 29157, and V(X) to be 2.757*10^8. Looking for how to do part b.

Answer 1