Q5 A tire manufacturer warranties its tires to last at least 20108 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26108 miles with standard deviation 5024 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. a) What is the probability that a set of tires wears out before 20108 miles? b) What is the probability that a set of tires wears out before 24108 miles and after 20108 miles? c) What is the cutoff value in terms of miles of the top 12% wearing out tires.
Q5 A tire manufacturer warranties its tires to last at least 20108 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26108 miles with standard deviation 5024 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. a) What is the probability that a set of tires wears out before 20108 miles? b) What is the probability that a set of tires wears out before 24108 miles and after 20108 miles? c) What is the cutoff value in terms of miles of the top 12% 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
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Transcribed Image Text:Q5
A tire manufacturer warranties its tires to last at least
20108 miles or “you get a new set of tires."
In its experience, a set of these tires lasts on average
26108 miles with standard deviation
5024 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.
a) What is the probability that a set of tires wears out before
20108 miles?
b) What is the probability that a set of tires wears out before
c) What is the cutoff value in terms of miles of the top
24108 miles and after
20108 miles?
12% wearing out tires.
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