Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Computer Science Posted 19 Sep 2017 My Price 8.00

Consumer Reports

Expand Your Knowledge: Estimating the Standard Deviation Consumer Reports gave information about the ages at which various household products are replaced. For example, color TVs are replaced at an average age of μ = 8years after purchase, and the (95% of data) range was from 5 to 11 years. Thus, the range was 11 - 5 – 6 years. Let x be the age (in years) at which a color TV is replaced. Assume that x has a distribution that is approximately normal.

(a) The empirical rule (Section 6.1) indicates that for a symmetrical and bellshaped distribution, approximately 95% of the data lies within two standard deviations of the mean. Therefore, a 95% range of data values extending from μ - 2σ  to μ = 2σ  is often used for “commonly occurring” data values. Use this “rule of thumb” to approximate the standard deviation of x values, where x is the age (in years) at which a color TV is replaced.

(b) What is the probability that someone will keep a color TV more than 5 years before replacement?

(c) What is the probability that someone will keep a color TV fewer than 10 years before replacement?

(d) Inverse Normal Distribution Assume that the average life of a color TV is 8 years with a standard deviation of 1.5 years before it breaks. Suppose that a company guarantees color TVs and will replace a TV that breaks while under guarantee with a new one. However, the company does not want to replace more than 10% of the TVs under guarantee. For how long should the guarantee be made (rounded to the nearest tenth of a year)?

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Sep 2017 07:09 AM My Price 8.00

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