The lifetime of a particular brand of television follows the exponential distribution and has an average...
The lifetime of a particular brand of television follows the exponential distribution and has an average lifetime of 7 years. If the manufacturer provided a warranty that replaces any television that fails within one year, what proportion of televisions will the manufacturer need to replace?
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The lifetime of a particular brand of television follows the exponential distribution and has an average...
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has an exponential dist...
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has an exponential distribution with a mean of 3 years. The manufacturer is considering offering the following warranty. - if the machine fails within 1 year, the full purchase price is refunded. if the machine fails after 1 year but before 2 years, 3/4 of the purchase price is refunded. price is refunded, an
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has...
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has an exponential distribution with a mean of 3 years. The manufacturer is considering offering the following warranty. - if the machine fails within 1 year, the full purchase price is refunded. if the machine fails after 1 year but before 2 years, 3/4 of the purchase price is refunded. price is refunded, an<d What is the expected warranty payment? if the machine failed after...
The usable lifetime of a particular electronic component is known to follow an exponential distribution with...
The usable lifetime of a particular electronic component is known to follow an exponential distribution with a mean of 6.6 years. Let X = the usable lifetime of a randomly selected component. (a) The proportion of these components that have a usable lifetime between 5.9 and 8.1 years is . (b) The probability that a randomly selected component will have a usable life more than 7.5 years is . (c) The variance of X is
Problem 7. Suppose that you own a store that sells a particular brand of stove for...
Problem 7. Suppose that you own a store that sells a particular brand of stove for $1000. You purchase the stoves from a distributor for $800 each. You believe that each stove has a lifetime that is an exponential random variable with rate parameter λ = T, where the unit of time is in years. You would like to offer the following extended warranty on this stove: if the stove breaks within r years, you will replace the stove completely...
A manufacturer of plasma television estimates that the average family uses its television 2,000 hours per...
A manufacturer of plasma television estimates that the average family uses its television 2,000 hours per year. The exponentially distributed mean time to failure for these televisions has been estimated to be 15,00 hours. The company firmly believes it is important to provide a reasonable warranty period for the television it sells; however, it realizes it would not be economically viable to service any more than 2% of the units it sells. What would be an appropriate warranty period (...
The life of automobile voltage regulators follows an exponential distribution with an average of 6 years....
The life of automobile voltage regulators follows an exponential distribution with an average of 6 years. You buy a car with 6 years of use, with a voltage regulator that is functional, and plan to stay with the vehicle for an additional 6 years. a) What is the probability that the voltage regulator will fail during the time that you kept the car? b) If the regulator fails 3 years after you bought the vehicle and it is replaced, what...
The average life of a certain type of small engine is 10 years, with a standard...
The average life of a certain type of small engine is 10 years, with a standard deviation of 2 years. The manufacturer replaces for free all motors that fail within the warranty period. If you were willing to replace only 3% of failed engines, how long a warranty should you offer? Suppose that the duration of an engine follows a normal distribution. Answer with 4 decimals.
The time until failure for an electronic switch has an exponential distribution with an average time...
The time until failure for an electronic switch has an exponential distribution with an average time to failure of 4 years, so that λ = 1/4 = 0.25. (Round your answers to four decimal places.) (a)What is the probability that this type of switch fails before year 3? (b)What is the probability that this type of switch will fail after 5 years? (c) If two such switches are used in an appliance, what is the probability that neither switch fails...
The lifetime, in years, of a gearbox operating continuously has a Weibull distribution with λ = 0...
The lifetime, in years, of a gearbox operating continuously has a Weibull distribution with λ = 0.1 and k = 2. The purchase price of the gearbox is $1000. The manufacturer warranties the gearbox of (a) refunding the entire purchase price if the gearbox fails during its first year of operation, and (b) refunding 40% of the purchase price if the gearbox fails during its second year of operation. What is the expected refund amount per gearbox?
The time between arrivals of vehicles at a particular intersection follows an exponential probability distribution with...
The time between arrivals of vehicles at a particular intersection follows an exponential probability distribution with a mean of 11 seconds. (a) Sketch this exponential probability distribution. (b) What is the probability that the arrival time between vehicles is 11 seconds or less? (c) What is the probability that the arrival time between vehicles is 7 seconds or less? (d) What is the probability of 33 or more seconds between vehicle arrivals?
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has an exponential distribution with a mean of 3 years. The manufacturer is considering offering the following warranty. - if the machine fails within 1 year, the full purchase price is refunded. if the machine fails after 1 year but before 2 years, 3/4 of the purchase price is refunded. price is refunded, an
2. (10pt) The initial cost of a machine is 3. The lifetime of the machine has an exponential distribution with a mean of 3 years. The manufacturer is considering offering the following warranty. - if the machine fails within 1 year, the full purchase price is refunded. if the machine fails after 1 year but before 2 years, 3/4 of the purchase price is refunded. price is refunded, an<d What is the expected warranty payment? if the machine failed after...
Problem 7. Suppose that you own a store that sells a particular brand of stove for $1000. You purchase the stoves from a distributor for $800 each. You believe that each stove has a lifetime that is an exponential random variable with rate parameter λ = T, where the unit of time is in years. You would like to offer the following extended warranty on this stove: if the stove breaks within r years, you will replace the stove completely...
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