A battery producer invents a new product. The life of the new battery is found to follow

Question:

A battery producer invents a new product. The life of the new battery is found to follow a normal distribution with a mean of 72 months and a standard deviation of 12 months. The producer guarantees that the new battery will last longer than 60 months or the full price will be refunded. Last year the producer sold one million batteries, how many refunds will be claimed?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

Question Posted: