Question: solve using excel by showing how id it done Consider an electronics manufacturer who is planning to establish a warranty policy for one of its

solve using excel by showing how id it done

solve using excel by showing how id it done

solve using excel by showing how id it done

Consider an electronics manufacturer who is planning to establish a warranty policy for one of its newly manufactured products. Suppose the mean life of the product is 46 months, with a standard deviation of 4 months. Use the cumulative normal distribution to determine the probability of failure and probability of survival (reliability) in the table below. Product life, P(failure) P(survival) months 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 a) (3 points) What is the expected loss if a 40-month warranty is established and the manufacturer sold 200 items of the product and the replacement cost is $200 per item? Show calculations. b) (3 points) What is the expected loss if a 36-month warranty is established and the manufacturer sold 150 items of the product and the replacement cost is $250 per item? Show calculations

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