Carla's company makes water heaters. These heaters last an average of 60 months, with a standard...
Carla's company makes water heaters. These heaters last an average of 60 months, with a standard deviation of 8 months, before needing to be serviced. Her accountants estimate that the company can afford to replace 10% of all water heaters and still make a tidy profit.
Rounding to the nearest whole number, how many months should the warranty be?
Homework Answers
Given that,
mean = 
= 60
standard deviation = 
=8
Using standard normal table,
P(Z < z) = 10%
= P(Z < z) = 0.10
= P(Z <-1.28) = 0. 10
z = -1.28
Using z-score formula
x= z *
+
x= -1.28 *8+60
x= 49.76
x=50
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