SOLUTION: How can I proceed to solve this problem? Thank you.
In establishing warranties on HDTV sets, the manufacturer wants to set the limites so that few will need repair at manufactur
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In establishing warranties on HDTV sets, the manufacturer wants to set the limites so that few will need repair at manufactur
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Question 180897: How can I proceed to solve this problem? Thank you.
In establishing warranties on HDTV sets, the manufacturer wants to set the limites so that few will need repair at manufacturer expense. On the other hand, the warranty period mst be long enough to make the purchase attractive to the buyer. For a new HDTV the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where should the warranty limits be set so that only 10 percent of the HDTVs need repairs at the manufacturer's expensive?