What is the probability that the service life

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Reference no: EM131431133

1. A major television manufacturer has determined that its 44 inch screens have a mean service life that can be modeled by a normal distribution with a mean of 6 years and a standard deviation of one-half year. What is the probability that the service life of that product is between 5 and 7 years? (Enter your answer as a percentage without the percent sign. Keep two decimal places in your answer)

2. A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor for $7.10 each or to produce them in house. There are two in house options.

Option 1 would have an annual fixed cost of $160000 and a variable cost of $5.80.

Option 2 would have an annual fixed cost of $193000 and a variable cost of $3.80.

Calculate the maximum quantity that would have the manager select purchasing the motors from the vendor.

Reference no: EM131431133

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