How many months should they limit the guarantee

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Reference no: EM131351707

Business The length of time a brand of CD players can be used before needing service is normally distributed. The mean length of time is 61 months, and the standard deviation is 5 months. The manufacturer plans to issue a guarantee that it will replace any CD player that breaks within a certain length of time. If the manufacturer does not want to replace any more than 2% of the CD players, how many months should they limit the guarantee?

Reference no: EM131351707

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