The Lower limit of guaranteed mileage is :?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
![A tire factory wants to set a minimum mileage
guarantee on its tyre. Tyre tests reveals that the
mean mileage has a normal distribution with
mean 128 and standard deviation 1.76.
the manufacturer wants to set the minimum
guaranteed mileage so that no more than 2.5
percent of tyres will have to be replaced.
The Lower limit of guaranteed mileage is :?
(Write your answer in 2 decimals
places)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2c9a585c-fc40-4f26-9584-ce62e9465518%2Fd0f0a94f-f0fd-4246-a087-a71a69021878%2Fjji6rgs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A tire factory wants to set a minimum mileage
guarantee on its tyre. Tyre tests reveals that the
mean mileage has a normal distribution with
mean 128 and standard deviation 1.76.
the manufacturer wants to set the minimum
guaranteed mileage so that no more than 2.5
percent of tyres will have to be replaced.
The Lower limit of guaranteed mileage is :?
(Write your answer in 2 decimals
places)
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