Problem 2. A tire company has produced a new tire with an estimated mean lifetime mileage of 36500 miles. Management also believe that the standard deviation is 5000 miles and that tire mileage is normally distributed. Use an EXCEL worksheet to simulate the miles obtained for a sample of 1000 tires.

1. What is your estimate of the percentage of tires that will exceed 40,000 miles?
2. What is your estimate of the percentage of tires that obtain mileage less than 32,000 miles?
3. What is your estimate of the percentage of tires that obtain mileage less than 28,000 miles?
4. If management would like to advertise a tire mileage guarantee such that approximately no more than 10% of the tires would obtain mileage low enough to qualify for the guarantee, what tire mileage would you recommend for the guarantee? Explain/provide evidence to support your answer.

Please answer this question with Excel sheet and show all of the formula. I promise will give a like! Thank you!