A tire manufacturer warranties its tires to last at least 20204 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26204 miles with standard deviation 5136 miles. Assume that the wear is normally distributed. The manufacturer profits Rs. 200 on each set sold, and replacing a set costs the manufacturer Rs. 400. What is the probability that a set of tires wears out before 20204 miles? What is the probability that a set of tires wears out before 24204 miles and after 20204 miles? What is the cutoff value in terms of miles of the top 68% wearing out tires.

A tire manufacturer warranties its tires to last at least 20204 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26204 miles with standard deviation 5136 miles. Assume that the wear is normally distributed. The manufacturer profits Rs. 200 on each set sold, and replacing a set costs the manufacturer Rs. 400. What is the probability that a set of tires wears out before 20204 miles? What is the probability that a set of tires wears out before 24204 miles and after 20204 miles? What is the cutoff value in terms of miles of the top 68% wearing out tires.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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