Layton tire and rubber company wishes to set a minimum, Ask an Expert

Economics

Layton Tire and Rubber Company wishes to set a minimum mileage guarantee on its new MX100 tire. Tests reveal the mean mileage is 67,900 with a standard deviation of 2,050 miles and that the distribution of miles follows the normal probability distribution. Layton wants to set the minimum guaranteed mileage so that no more than 4 percent of the tires will have to be replaced. What minimum guaranteed mileage should Layton announce?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91570854

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