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Accrotime is the producer of quartz crystal watches. Accrotime researchers have shown that watches have average life of 30 months before certain electronic components deteriorate, causing watch to become unreliable. Standard deviation of watch lifetimes is 7 months, and th distribution of lifetimes is normal.
(a) If Accrotime guarantees full refund on any defective watch for 2 years after purchase, determine percentage of total production will company expect to replace?
(b) If Accrotime doesn't want to make refunds on more than 12% of watches it makes, how long must the guarantee period be (to the nearest month)?
The lifetime of a light bulb is an Exponential RV with a mean of 800 hours. Let L represent the time (in hours) that one randomly selected light bulb will burn. What is the possibility the light bulb burns for more than 1000 hours.
Lets say a business has account receivables per customer of $60.54. There was a random sampling of 19 accounts that revealed a sample mean of $73.55 and a sample standard deviation of $19.29.
A business owner decides to use a binomial distribution to solve one of his problems.
What does the binomial distribution chart look like? Can I use Excel to come up with this chart?
The hypotheses tested by the one-way ANOVA F test - Evaluate the P-value of the ANOVA F test
In each of the following cases, decide whether or not a binomial distribution is an appropriate model, and give your reasons.
As reported by Runner's World magazine, the times of the finishers in the New York City 10-km run are normally distributed with a mean of 61 minutes and a standard deviation of 9 minutes. Let x be the finishing time for a finisher in the New York ..
Does the data prove a significant difference in mean times?
Suppose that a certain college class contains 45 students. Of these, 26 are sophomores, 25 are chemistry majors, and 7 are neither. A student is selected at random from the class.
There are 4000 mangoes in a shipment. It is found that it a mean weight of 15 ounces with a standard deviation of 2 ounces.
The student newspaper on our campus was interested in binge drinking. For their article, they surveyed 50 fraternity members, and found they drink more than 5 drinks an average of 7 times per month.
For the data giben below, prepare a R-chart. Note that the sample size is three.
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