Usnig the Excel countif function for estimated tire miles
Not what you're looking for?
Grear Tire company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. Use a worksheet to simulate the miles obtained for a sample of 500 tires.
A) USE THE EXCEL COUNTIF FUNCTION to determine the number of tires that last longer than 40000 miles. What is your estimate of the percentage of tires that will exceed 40,000 miles?
B) Use COUNTIF to find the number of tires that obtain mileage less than 32,000 miles. Then find the number with less than 30,000 miles and the number with less than 28,000 miles.
C) If management would like to advertise a tire mileage guarantee such that approximately no more tnan 10% of the tires would obtain mileage low enough to qualify for the guarantee, what tire mileage considered in part (b) would you recommend for the guarantee.
Purchase this Solution
Solution Summary
Spreadsheet attached provides a template to help with randomization and uses the countif and rand functions for Grear Tire Company's estimations.
Purchase this Solution
Free BrainMass Quizzes
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.