Using z-scores to solve problem

Reference no: EM13106699

Assume that replacement time for TVs are normally distributed with a mean of 8.2 years and a standard deviation of 1.1 years. The probability a randomly selected TV will have replacement time less than 5.5 years to be .0071.

Determine the time length of a warranty such that only 3.5% of the TVs would be replaced before the warranty expires.

Reference no: EM13106699

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