What minimum guaranteed mileage should layton announce

Assignment Help Business Economics
Reference no: EM13896822

Layton Tire and Rubber Company wishes to set a minimum mileage guarantee on its new MX100 tire. Tests reveal the mean mileage is 67,900 with a standard deviation of 2,050 miles and that the distribution of miles follows the normal probability distribution. Layton wants to set the minimum guaranteed mileage so that no more than 4 percent of the tires will have to be replaced. What minimum guaranteed mileage should Layton announce?

Reference no: EM13896822

Questions Cloud

Describe the anatomy and basic physiology of the system : Describe the anatomy and basic physiology of the system
Lend to borrower during a round of the experiment : Suppose you are a lender. The T-bill interest rate is 1.4%. If you do not lend to a borrower during a round of the experiment, which one of the following would happen in that round?
Borrower with a project that has rate of return : Suppose that you are a borrower with a project that has a rate of return of 2.5%. Which of the following offers to borrow $1,000 would let you earn a positive gain, provided a lender accepts your offer?
Characteristics of promising programs : Using the Office of Juvenile Justice and Delinquency Prevention (OJJDP) resource listed below, describe some of the common characteristics of promising programs that utilize juvenile justice case management
What minimum guaranteed mileage should layton announce : Layton Tire and Rubber Company wishes to set a minimum mileage guarantee on its new MX100 tire. Tests reveal the mean mileage is 67,900 with a standard deviation of 2,050 miles and that the distribution of miles follows the normal probability distrib..
How does each of these concepts function in the process : What would be the main thesis of each of the videos with regard to the concepts and how they can be comprehended by the public?
Common barriers to active listening and describe : common barriers to Active Listening anddescribe
How four major shifts in federal juvenile policy occurred : Discusses each of the four major shifts in Federal Juvenile policy. Describes how the four major shifts in the Federal Juvenile policy occurred
What is the mean and standard deviation of random variable : On average, 30-minute television sitcoms have 22 minutes of programming. Assume that the probability distribution for minutes of programming can be approximated by a uniform distribution from 18 minutes to 26 minutes. What is the expected duration of..

Reviews

Write a Review

Business Economics Questions & Answers

  Housing and all other consumption goods

Suppose that people derive utility from two goods---housing (H) and all other consumption goods(C). Show a typical consumer's allocation of his or her income between H and C.

  Steel between the united states and germany

In long run, what would you expect to happen to the price of steelin U.S. and Germany. What would be the price differential.

  Money supply reduce the price level to the tolerable range

The price level starts at 1.0 and rises by the end of the year to 1.15. What has happened to the value of the dollar over that same period of time? What are the consequences of that price level change? Will an increase or decrease in the money supply..

  What do you mean by macroeconomics and its role

What do you mean by macroeconomics. What role does macroeconomics play in your personal financial decisions and the decisions that your organization makes.

  Write the production function in per worker terms

Consider an economy whose production can be characterized by the following production function: Yt = 2K^5 N^5. Write the production function in per worker terms. Draw a graph of this production function. Introduce a curve that shows the level of inve..

  Sells a product for which there are many close substitutes

For a business that sells a product for which there are many close substitutes,

  Classical economists believe-dealing with great recession

Classical economists believe that. keynesian economists believe that. In dealing with the "great recession", the obama administration has largely followed the policies of ____________

  Supply of cigarettes is elastic but not perfectly elastic

The demand for cigarettes is price inelastic, but not perfectly inelastic. The supply of cigarettes is elastic, but not perfectly elastic. If there were no price controls or other complicating regulations, what would a model of supply and demand ther..

  Change of consumer and producer

How does the change of consumer and producer surplus compared to the tax revenue.

  Illustrate what would drive the market toward equilibrium

If the actual price in this market were below the equilibrium price, illustrate what would drive the market toward the equilibrium.

  Explain the types of incentives for providers

Explain the types of incentives for providers for efficiency in the delivery of healthcare services.

  Calculate the coefficient of variation and select the best

Risk and Return, Coefficient of Variation  Based on the following information, calculate the coefficient of variation and select the best investment based on the risk/reward relationship.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd