subject
Mathematics, 06.05.2020 23:04 rjeus

Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5,000 miles and that tire mileage is normally distributed. To promote the new tire, Grear has offered to refund some money if the tire fails to reach 30,000 miles before the tire needs to be replaced. Specifically, for tires with a lifetime below 30,000 miles, Grear will refund a customer $1 per 100 miles short of 30,000.

a) For each tire sold, what is the expected cost of the promotion?

b) Please perform the simulation for 1000 times, what is the probability that Grear will refund more than $50 for a tire?

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 15:30
Strawberries cause two hours per pound kate buys 5 pounds he gets 20% off discount on the total cost how much does kate pay for the strawberries
Answers: 3
question
Mathematics, 21.06.2019 20:30
Find the area of the triangle formed by the origin and the points of intersection of parabolas y=−3x^2+20 and y=x^2−16.
Answers: 3
question
Mathematics, 21.06.2019 20:30
Three numbers x, y, and z are in the ratio 2: 7: 8. if 12 is subtracted from y, then three numbers form a geometric sequence (in the order x, y–12, z). find x, y, and z. there are 2 sets.
Answers: 1
question
Mathematics, 21.06.2019 22:10
What is the factor form of x^2-9x+14
Answers: 2
You know the right answer?
Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles....
Questions
question
Spanish, 16.09.2019 17:30
Questions on the website: 13722363