Accrotime Is a manufacturer of quartz crystal watches. Accrotime researchers have shown that the watches have an average life of 36 months before certain electronic components deteriorate, causing the watch tobecome unreliable. The standard deviation of watch lifetimes is 4 months, and the distribution of lifetimes is normal.(a) If Accrotime guarantees a full refund on any defective watch for 2 years after purchase, what percentage of total production will the company expect to replace? (Round your answer to two decimalplaces.)0.13(b) If Accrotime does not want to make refunds on more than 17% of the watches it makes, how long should the guarantee period be (to the nearest month)?months

given data, normal distribution μ=36 months σ=4 months we have to find out the given probabilties

Answered: Accrotime Is a manufacturer of quartz…

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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.A new, miracle diabetes drug that diminishes major symptoms of diabetes has been approved by the FDA. Health care professionals and researchers believe that the new drug will prolong lifespan of diabetes patients. If the population is in steady state and the incidence is constant, what will the effect of this new drug be on the prevalence of diabetes in the population? Explain.
Product failure behavior. An article in Hotwire (Dec. 2002) discussed the length of time till failure of a product pro- duced at Hewlett-Packard. At the end of the product’s life- time, the time till failure is modeled using an exponential distribution with mean 500 thousand hours. In reliability jargon, this is known as the “wear-out” distribution for the product. During its normal (useful) life, assume the prod- uct’s time till failure is uniformly distributed over the range 100 thousand to 1 million hours. a. At the end of the product’s lifetime, find the probability that the product fails before 700 thousand hours. b. During its normal (useful) life, find the probability that the product fails before 700 thousand hours. c. Show that the probability of the product failing before 830 thousand hours is approximately the same for both the normal (useful) life distribution and the wear-out distribution
Data can be approximated quite well by a N(3.4, 3.1) model. Economists become alarmed when productivity decreases. According to the normal model what is the probability that the percent change in worker output per hour from the previous quarter is more than 1.6 standard deviations below the mean? What is the probability that the percent change in worker output from the previous quarter is between -1.56 and 4.33?
9
Empirical research on stock market data for two consecutive trading days indicates that 60% of the stocks that went up on the first day also went up on the second day. Yesterday, 600 stocks went up. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p gives the proportion of the 600 stocks that went up yesterday that will go up today. (b) Find the standard deviation of p. (c) Compute an approximation for P(p <0.58), which is the probability that fewer than 58% of the stocks that went up yesterday will go up again today. Round your answer to four decimal places.
The working life time, in years, of a particular model of electric oven is exponentially distributed with mean of 8. Find the 22th percentile of the working lifetime, in years.
Suppose that replacement times for washing machines are normally distributed with a mean of 9.4 years and a standard deviation of 1.2 years. Find the replacement times for the middle 54%Round your answers to 3 decimal places.
The average lifetime of a certain new cell phone is 5 years. The manufacturer will replace any cell phone failing within 3 years of the date of purchase. The lifetime of these cell phones is known to follow an exponential distribution.What is the median lifetime of these phones (in years)? (Round your answer to four decimal places.)
Suppose that the annual rate of return for a common biotechnology stock is normally distributed with a mean of 4% and a standard deviation of 4%. Find the probability that the one-year return of this stock will be positive. Round your answer to at least four decimal places. 0 X Ś

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