Assume that replacement time for TVs are normally distributed with a mean of 8.2 years and a standard deviation of 1.1 years. The probability a randomly selected TV will have replacement time less than 5.5 years to be .0071.
Determine the time length of a warranty such that only 3.5% of the TVs would be replaced before the warranty expires.
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This problem is sort of the opposite of the problems that gives you a raw score x and want you to find the associated probability.
Here, we have the probability and need to find x. We want ...
The solution explains how to use z-scores to answer the question.