The Lifespans of a Particular Brand of Graphing Calculator Are

question 106

Essay

The lifespans of a particular brand of graphing calculator are approximately normally distributed with a mean of 620 days from the purchase date and a standard deviation of 82 days. They will provide a warranty that guarantees a replacement if the calculator stops working within the specified time frame, and are trying to decide what time frame to use. a. If the company sets the warranty at a year and a half (say 540 days), what proportion of calculators will they have to replace?
b. The company does not want to have to replace more than 1% of the calculators they sell. What length of time should they set for the warranty?
c. The company would like to set the warranty for 540 days, and still replace no more than
1% of the calculators sold. Increasing the average life of the calculators is too expensive, but
they think they reduce the standard deviation of the lifespans. What standard deviation of lifespans would be needed to make this happen?
d. Explain what achieving a smaller standard deviation means in this context.

Determine total borrowing costs including commitment fees and prime rate adjustments.

Compute the effective cost of using commercial paper as a financing method.

Analyze the impact of financing decisions on cash conversion cycles.

Understand inventory management classifications within the ABC system.

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Definitions:

Exploited Labour Market

A labor market segment characterized by unfair wages and working conditions, where workers are made to work for less than their labor is worth due to unequal power dynamics.

Critical Race Theory

An academic and legal framework that examines society and culture as they relate to categorizations of race, law, and power.

Legal Rulings

Decisions or judgments made by a court or legal authority that resolve a dispute and set a legal precedent.

Legal Principle

A foundational rule or concept upon which laws are based, guiding the operations of legal systems.