Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Oct 2017 My Price 5.00

Refrigerator Replacement

22.      Estimating the Standard Deviation: Refrigerator Replacement Consumer Reports indicated that the average life of a refrigerator before replacement is m = 14 years with a (95% of data) range from 9 to 19 years. Let x = age at which a refrigerator is replaced. Assume that x has a distribution that is approx- imately normal.

(a)     Find a good approximation for the standard deviation of x values. Hint: See Problem 31.

(b)    What is the probability that someone will keep a refrigerator fewer than 11 years before replacement?

(c)     What is the probability that  someone  will  keep  a  refrigerator  more than 18 years before replacement?

(d)    Inverse Normal Distribution Assume that the average life of a refrigerator is 14 years, with the standard deviation given in part (a) before it breaks. Suppose that a company guarantees refrigerators and will replace a refriger- ator that breaks while under guarantee with a new one. However, the company does not want to replace more than 5% of the refrigerators 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 29 Oct 2017 08:10 AM My Price 5.00

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