Suppose, household color TVs are replaced at an average age of μ = 8.4 years after purchase, and the (95% of data) range was from 4.4 to 12.4 years. Thus, the range was 12.4 − 4.4 = 8.0 years. Let x be the age (in years) at which a color TV is replaced. Assume that x has a distribution that is approximately normal. (a) The empirical rule indicates that for a symmetric and bell-shaped distribution, approximately 95% of the data lies within two standard deviations of the mean. Therefore, a 95% range of data values extending from μ − 2σ to μ + 2σ is often used for "commonly occurring" data values. Note that the interval from μ − 2σ to μ + 2σ is 4σ in length. This leads to a "rule of thumb" for estimating the standard deviation from a 95% range of data values. Estimating the standard deviation For a symmetric, bell-shaped distribution, standard deviation ≈ range 4 ≈ high value − low value 4 where it is estimated that about 95% of the commonly occurring data values fall into this range. Use this "rule of thumb" to approximate the standard deviation of x values, where x is the age (in years) at which a color TV is replaced. (Round your answer to one decimal place.) yrs (b) What is the probability that someone will keep a color TV more than 5 years before replacement? (Round your answer to four decimal places.) (c) What is the probability that someone will keep a color TV fewer than 10 years before replacement? (Round your answer to four decimal places.) (d) Assume that the average life of a color TV is 8.4 years with a standard deviation of 2.0 years before it breaks. Suppose that a company guarantees color TVs and will replace a TV that breaks while under guarantee with a new one. However, the company does not want to replace more than 6% of the TVs under guarantee. For how long should the guarantee be made (rounded to the nearest tenth of a year)?
Suppose, household color TVs are replaced at an average age of μ = 8.4 years after purchase, and the (95% of data) range was from 4.4 to 12.4 years. Thus, the range was 12.4 − 4.4 = 8.0 years. Let x be the age (in years) at which a color TV is replaced. Assume that x has a distribution that is approximately normal. (a) The empirical rule indicates that for a symmetric and bell-shaped distribution, approximately 95% of the data lies within two standard deviations of the mean. Therefore, a 95% range of data values extending from μ − 2σ to μ + 2σ is often used for "commonly occurring" data values. Note that the interval from μ − 2σ to μ + 2σ is 4σ in length. This leads to a "rule of thumb" for estimating the standard deviation from a 95% range of data values. Estimating the standard deviation For a symmetric, bell-shaped distribution, standard deviation ≈ range 4 ≈ high value − low value 4 where it is estimated that about 95% of the commonly occurring data values fall into this range. Use this "rule of thumb" to approximate the standard deviation of x values, where x is the age (in years) at which a color TV is replaced. (Round your answer to one decimal place.) yrs (b) What is the probability that someone will keep a color TV more than 5 years before replacement? (Round your answer to four decimal places.) (c) What is the probability that someone will keep a color TV fewer than 10 years before replacement? (Round your answer to four decimal places.) (d) Assume that the average life of a color TV is 8.4 years with a standard deviation of 2.0 years before it breaks. Suppose that a company guarantees color TVs and will replace a TV that breaks while under guarantee with a new one. However, the company does not want to replace more than 6% of the TVs under guarantee. For how long should the guarantee be made (rounded to the nearest tenth of a year)?
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
Related questions
Concept explainers
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Question
Suppose, household color TVs are replaced at an average age of μ = 8.4 years after purchase, and the (95% of data) range was from 4.4 to 12.4 years. Thus, the range was 12.4 − 4.4 = 8.0 years. Let x be the age (in years) at which a color TV is replaced. Assume that x has a distribution that is approximately normal.
(a) The empirical rule indicates that for a symmetric and bell-shaped distribution, approximately 95% of the data lies within two standard deviations of the mean. Therefore, a 95% range of data values extending from μ − 2σ to μ + 2σ is often used for "commonly occurring" data values. Note that the interval from μ − 2σ to μ + 2σ is 4σ in length. This leads to a "rule of thumb" for estimating the standard deviation from a 95% range of data values.
yrs
(b) What is theprobability that someone will keep a color TV more than 5 years before replacement? (Round your answer to four decimal places.)
(c) What is the probability that someone will keep a color TV fewer than 10 years before replacement? (Round your answer to four decimal places.)
(d) Assume that the average life of a color TV is 8.4 years with a standard deviation of 2.0 years before it breaks. Suppose that a company guarantees color TVs and will replace a TV that breaks while under guarantee with a new one. However, the company does not want to replace more than 6% of the TVs under guarantee. For how long should the guarantee be made (rounded to the nearest tenth of a year)?
Estimating the standard deviation
For a symmetric, bell-shaped distribution,
where it is estimated that about 95% of the commonly occurring data values fall into this range.
Use this "rule of thumb" to approximate the standard deviation of x values, where x is the age (in years) at which a color TV is replaced. (Round your answer to one decimal place.) For a symmetric, bell-shaped distribution,
| standard deviation ≈ |
|
≈ |
|
yrs
(b) What is the
(c) What is the probability that someone will keep a color TV fewer than 10 years before replacement? (Round your answer to four decimal places.)
(d) Assume that the average life of a color TV is 8.4 years with a standard deviation of 2.0 years before it breaks. Suppose that a company guarantees color TVs and will replace a TV that breaks while under guarantee with a new one. However, the company does not want to replace more than 6% of the TVs under guarantee. For how long should the guarantee be made (rounded to the nearest tenth of a year)?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 6 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.Recommended textbooks for you
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON