I. The Readylite Company produces a flashlight in which product managers are trying to decide how long a warranty to issue If the managers believe the life of the flashlight follows a normal distribution with a mean of 3.5 years anda standard deviation of 1.50 years) a. What percentage of flashlights sold can they anticipate will be returned within the first one and one-half years? b. What percentage of flashlights sold can they anticipate will be returned within two and one- half years? c. What percentage of flashlights sold can they anticipate will be returned between the first one and one-half and three and one-half years? II. Suppose a company has a design maximum output of 280. Its actual output is 195 and its efficiency is 80% Calculate its effective output and its capacity utilization III. Suppose a company has a fixed cost of $140,000 and a variable cost per unit of $9. It sells its product for S14. a. Calculate its break-even level of output. b. Calculate how much it must produce to make S145,000 assuming it can sell it all Extra credit - 15 points. If it can outsource, and buy the product wholesale from a distributor at $11 each, over what level of output should it buy from the wholesaler, and over what level should it produce on its own