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Calculate Product Demand and Expected Warranty Service

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8. The weekly demand for a product follows a normal curve with an average of 1000 units and a standard deviation of 200 units. In how many weeks during a typical 52-week year would be below 900 units?
a. 12 weeks
b. 14 weeks
c. 16 weeks
d. 18 weeks

9. The lifetime of a particular product made by a company is Normally distributed with a mean of 4 years and a standard deviation of 1.6 years. The company offers a warranty of 1 year for the product. What percentage of the product sold by the company will need warranty service (that is, it will last less than 1 year)?

a. 0.1 %
b. 1 %
c. 3 %
d. 5 %

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Solution Summary

The solution provides step by step method for the calculation of probability using the Z score. Formula for the calculation and Interpretations of the results are also included.