Question
IJ, Inc. (Cheap Imported Junk) has developed a new media player called the MePod. The average life of a MePod is 20 months with standard
IJ, Inc. (Cheap Imported Junk) has developed a new media player called the MePod. The average life of a MePod is 20 months with standard deviation 6.1 months.
a) If CIJ has a full refund guarantee for 12 months, what percentage of all MePods sold would they have to replace?
b) If CIJ wanted to replace 3% or fewer of their MePods, how long should the guarantee period be?
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
a To determine the proportion of MePods that require replacement in the event that the guarantee las...
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Essentials Of Business Statistics
Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or
5th Edition
978-1259688867, 1259688860, 78020530, 978-0078020537
