A manufactures of personal music players has determined that the mean life of the players is 32.4 months, with a standard deviation of 6.3 months. a) What length of warranty should be offered if the manufacturer wants to restrict repairs to less than 1.5% of all the players sold? b) If 10 000 personal music players are sold, how many could the manufacturer expect to receive for repairs under warranty? c) The manufacturer wants to offer the option of purchases an extended warranty. If the manufacturer wants at least 80% of the players sold not to require repairs under extended warranty, what length of extended warranty should be offered?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
A manufactures of personal music players has determined that the mean life of the players is 32.4 months, with a standard deviation of 6.3 months.
a) What length of warranty should be offered if the manufacturer wants to restrict repairs to less than 1.5% of all the players sold?
b) If 10 000 personal music players are sold, how many could the manufacturer expect to receive for repairs under warranty?
c) The manufacturer wants to offer the option of purchases an extended warranty. If the manufacturer wants at least 80% of the players sold not to require repairs under extended warranty, what length of extended warranty should be offered?
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