Assume that part failures are normally distributed. The mean time before failure is 72.3 hours and the standard deviation of mean time before failure is 4.1 hours. Your supervisor wants to keep sufficient parts on hand, however, parts are expensive and storage costs are prohibitive. Having excess parts on hand would not be preferred. Your supervisor has directed you to estimate the number of hours at or below which 95% of failures are expected to occur, assuming that part failures continue to behave as previously observed in the past.
Assume that part failures are
Your supervisor wants to keep sufficient parts on hand, however, parts are expensive and storage costs are prohibitive. Having excess parts on hand would not be preferred. Your supervisor has directed you to estimate the number of hours at or below which 95% of failures are expected to occur, assuming that part failures continue to behave as previously observed in the past.
Respond with your estimate of the value at or below which 95% of observations should lie with respect to the distribution in question. Respond to the first decimal point.
Mean=72.3, standard deviations=4.1
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