a) A study has shown that 25% of all college textbooks have a price of RM 200 or higher. It is known that the standard deviation of the prices of all college textbooks RM 10.50. Supposed the price of all college textbooks have a normal distribution, wl is the mean price of all college textbook?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
icon
Related questions
Question
a) A study has shown that 25% of all college textbooks have a price of RM 200 or
higher. It is known that the standard deviation of the prices of all college textbooks is
RM 10.50. Supposed the price of all college textbooks have a normal distribution, what
is the mean price of all college textbook?
b) Given that Noelle Phone company makes smartphones. The life of an iNphone
model manufactured by this company has a normal distribution with a mean of 5
years and a standard deviation of 6 months. The company is to determine the
warranty period for this new iNphone and any phone that needs a major repair
during this warranty period will be replaced free by the company. What should the
warranty period (in months) be if the company does not want to replace more than
1% of the iNphone?.
Transcribed Image Text:a) A study has shown that 25% of all college textbooks have a price of RM 200 or higher. It is known that the standard deviation of the prices of all college textbooks is RM 10.50. Supposed the price of all college textbooks have a normal distribution, what is the mean price of all college textbook? b) Given that Noelle Phone company makes smartphones. The life of an iNphone model manufactured by this company has a normal distribution with a mean of 5 years and a standard deviation of 6 months. The company is to determine the warranty period for this new iNphone and any phone that needs a major repair during this warranty period will be replaced free by the company. What should the warranty period (in months) be if the company does not want to replace more than 1% of the iNphone?.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON