In establishing warranties on HDTVS, the manufacturer wants to set the limits so that few will need repair at the manufacturer's expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV, the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where should the warranty limits be set so that only 10% of the HDTVS need repairs at the manufacturer's expenses? (Assuming the time until repairs are needed follows a normal distribution.)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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In establishing warranties on HDTVS, the manufacturer wants to set the limits so that few will
need repair at the manufacturer's expense. On the other hand, the warranty period must be
long enough to make the purchase attractive to the buyer. For a new HDTV, the mean number
of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where
should the warranty limits be set so that only 10% of the HDTVS need repairs at the
manufacturer's expenses? (Assuming the time until repairs are needed follows a normal
distribution.)
Transcribed Image Text:In establishing warranties on HDTVS, the manufacturer wants to set the limits so that few will need repair at the manufacturer's expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV, the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where should the warranty limits be set so that only 10% of the HDTVS need repairs at the manufacturer's expenses? (Assuming the time until repairs are needed follows a normal distribution.)
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