Assignment:
Q1) Tire Life - The life of a tire is normally distributed with a mean of 76,000 miles and a standard deviation of 10,000 miles.
a) Determine the probability that a tire will last for less than 67,000 miles.
b) Determine the probability that a tire will last for more than 67,000 miles.
c) Determine the probability that a tire will last for less than 80,000 miles.
d) Determine the probability that a tire will last between 67000 and 80000 miles?
e) The company offers a warranty. The warranty costs $8 per tire returned. If the company sets the warranty miles at 67000, how much on average per tire will the warranty cost?
Q2)Church Fund Raiser - The amount of money earned at the church charity auction for the last 20 years is in the following table. Assume a normal distribution. (Use Excel)
Year Amount
1 349
2 280
3 390
4 470
5 380
6 430
7 290
8 477
9 298
10 449
11 370
12 375
13 405
14 490
15 402
16 410
17 330
18 510
19 325
20 370
- What is the mean?
- What is the standard deviation?
- What is the probability that the church will earn less than $425 next year?
- What is the probability that the church will earn more than $425 next year?
- What is the probability that the amount will be between $400 and $475?
Provide complete and step by step solution for the question and show calculations and use formulas.