Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume the cost of an extended 100,000 mile warranty for a particular SUV follows the normal distribution with a mean of $1,790 and a standard

image text in transcribed
Assume the cost of an extended 100,000 mile warranty for a particular SUV follows the normal distribution with a mean of $1,790 and a standard deviation of $75. Complete parts (a) through (d) below. a) Determine the interval of warranty costs from various companies that are one standard deviation around the mean. The interval of warranty costs that are one standard deviation around the mean ranges from $ to $| (Type integers or decimals. Use ascending order.) b) Determine the interval of warranty costs from various companies that are two standard deviations around the mean. The interval of warranty costs that are two standard deviations around the mean ranges from $D to $D. (Type integers or decimals. Use ascending order.) c) Determine the interval of warranty costs from various companies that are three standard deviations around the mean. The interval of warranty costs that are three standard deviations around the mean ranges from $ to $ (Type integers or decimals. Use ascending order.) d) An extended 100,000 mile warranty for this type of vehicle is advertised at $2,090. Based on the previous results, what conclusions can you make? 0 A. This warranty is better quality than warranties offered by competing companies due to the fact that it is more than three standard deviations above the mean. 0 B. The $2,090 cost of this warranty must be an error in the advertisement because a data value cannot be more than three standard deviations from the mean. 0 C. The $2,090 cost of this warranty is slightly higher than average due to the fact that it is more than three standard deviations above the mean. 0 D. The $2,090 cost of this warranty is much higher than average due to the fact that it is more than three standard deviations above the mean

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra And Trigonometry

Authors: Cynthia Y Young

3rd Edition

1118475755, 9781118475751

More Books

Students also viewed these Mathematics questions

Question

3. Outline the four major approaches to informative speeches

Answered: 1 week ago

Question

4. Employ strategies to make your audience hungry for information

Answered: 1 week ago