IJ, Inc. (Cheap Imported Junk) has developed a new media player called the MePod. The average life
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Question:
IJ, Inc. (Cheap Imported Junk) has developed a new media player called the MePod. The average life of a MePod is 20 months with standard deviation 6.1 months.
a) If CIJ has a full refund guarantee for 12 months, what percentage of all MePods sold would they have to replace?
b) If CIJ wanted to replace 3% or fewer of their MePods, how long should the guarantee period be?
Related Book For
Essentials Of Business Statistics
ISBN: 9780078020537
5th Edition
Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or
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