Replacement times for TV sets are normally distributed with a mean of 8.2 and a standard deviation of 1.1years. Find the probability that a randomly selected TV will have a replacement time less than 5 years. If you want to provide a warranty so that only 1% of the TV sets will be replaced before the warrenty expires, what is the time length of the warranty?
8.2+(-2.326)(1.1) = 5.64 years is length of warrenty
How do I find the probability that a randomly selected TV will have a replacement time less than 5 years?
8.2+(-2.326)(1.1) = 5.64 years is length of warrenty
How do I find the probability that a randomly selected TV will have a replacement time less than 5 years?