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The lifespan of an electrical component is assumed to be normally distributed with an average life of 6 years and a standard deviation of 1 year. The electrical component manufacturer wants to offer their customers a product-replacement guarantee, but hopes to replace at most only 1.5% of the components that fail. How long of a guarantee should the manufacturer offer to buyers of this part? Assume that the lives of the electrical components follow a normal probability distribution.

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Category:- Statistics and Probability
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