In Establishing Warranties On Hdtvs,

In establishing warranties on HDTVs, the manufacturer wants to set the limits so that few will need repair at the manufacturer’s expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV, the mean number of months until repairs are needed is 36. 84 with a standard deviation of 3. 34 months. Where should the warranty limits be set so that only 10% of the HDTVs need repairs at the manufacturer’s expense? (Round z-score computation and final answer to 2 decimal places. ) Warranty limits months

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In establishing warranties on HDTVs,

Question
In establishing warranties on HDTVs, the manufacturer wants to set the limits so that few will need repair at the manufacturer’s expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV, the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months.

Where should the warranty limits be set so that only 10% of the HDTVs need repairs at the manufacturer’s expense? (Round z-score computation and final answer to 2 decimal places.)

Warranty limits
months

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