A tire manufacturer warranties its tries to last atleast 20099 miles or "you get a new set of tires" . In its experience , a set of these tires lasts on average 26099 miles with standard deviation 5022 miles . Assume that the wear is normally distributed . The manufacturer profits rs 200 on each set sold and replacing a set cost the manufacturer rs 400. A) what is probability that a set of tire wears out before 20099 miles? B) what is the probability that a set of tires wears out before 24099 miles and after 20099 miles? C) what is the cutoff value in terms of miles of the top 11% wearing out tires?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A tire manufacturer warranties its tries to last atleast 20099 miles or "you get a new set of tires" . In its experience , a set of these tires lasts on average 26099 miles with standard deviation 5022 miles . Assume that the wear is
A) what is probability that a set of tire wears out before 20099 miles?
B) what is the probability that a set of tires wears out before 24099 miles and after 20099 miles?
C) what is the cutoff value in terms of miles of the top 11% wearing out tires?
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