Rockingham Corporation makes electric shavers The life (period during which a shaver does not need a major repair) of Model J795 of an electric shaver manufactured by this corporation has a normal distribution with a mean of 70 months and a standard deviation of 8 months The company is to determine...

70 months and 8 months Let x denote the warranty period a We are to find x such that ...

Rockingham Corporation makes electric shavers. The life (period during which a shaver does not need a major

Question:

Rockingham makes electric shavers. The life (period during which a shaver does not need a major repair) of Model J795 of an electric shaver manufactured by this has a normal with a mean of 70 months and a standard deviation of 8 months. The company is to determine the warranty period for this shaver. Any shaver that needs a major repair during this warranty period will be replaced free by the company.
a. What should the warranty period be if the company does not want to replace more than 1% of the shavers?
b. What should the warranty period be if the company does not want to replace more than 5% of the shavers?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...