SOLUTION: How long should a manufacturer�s guarantee for its electronic music player be? The manufacturer is only willing to replace 2% of these music players. Their average lifespan is

Question 415769: How long should a manufacturer�s guarantee for its electronic music player be? The
manufacturer is only willing to replace 2% of these music players. Their average
lifespan is five years, with a standard deviation of 6 months.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How long should a manufacturer�s guarantee for its electronic music player be? The manufacturer is only willing to replace 2% of these music players. Their average lifespan is five years, with a standard deviation of 6 months.
-----
Find the z-value with a 2% right tail: invNorm(0.98) = 2.0537
---
Find the corresponding x-value using x = zs+u
----
x = 2.0537*6+5*12 monts
---
x = 72.322 months
======================
Cheers,
Stan H.
=============
RELATED QUESTIONS
The life time of a heavy lift machine is normally distributed, with mean of 7.2 years and (answered by ewatrrr)

You are the manufacturer of chain saws and are prepared to replace free all saws that... (answered by ewatrrr)

The life of a smartphone is normally distributed with a mean 3 years and standard... (answered by jim_thompson5910)

Suppose a tire manufacturer wants to set a mileage guarantee on its new XB 78 tire. Tests (answered by ewatrrr)

Suppose the life of a certain brand of vacuum cleaner is normally distributed with a mean (answered by stanbon)

60. In establishing warranties on HDTV sets, the manufacturer wants to set the limits so... (answered by stanbon)

Please help me.....I am having a hard time solving this problem. The operating life of (answered by stanbon)

The mean lifetime of a printer is 48 months, with a standard deviation of 7 months. If... (answered by ewatrrr)

The mean lifetime of a printer is 48 months, with a standard deviation of 7 months. If... (answered by greenestamps)