The Active Lifetime of Laptop Computers Is Normally Distributed, with a Mean

question 5

Short Answer

The active lifetime of laptop computers is normally distributed, with a mean of 36 months and a standard deviation of 6 months.
a. What is the probability that a randomly selected laptop will last less than 3.5 years?
b. What proportion of the laptops will last more than 32 months?
c. What proportion of the laptops will last between 2 and 4 years?

Recognize the role of government in correcting market failures and enhancing economic efficiency through public goods and externalities management.

Explain the phenomena of government failure and the conditions that lead to economically inefficient outcomes.

Identify rent-seeking behavior and its impact on economic efficiency and resource allocation.

Understand the limitations of majority voting in reflecting the strength of voter preferences and its potential to lead to inefficient outcomes.

---

Definitions:

Company Records

Official documents that contain the history, transactions, and operational details of a corporation.

Informational Reports

Documents or presentations that provide facts or data without analysis, intended to inform the reader or audience.

Periodic Activities

Actions or tasks that are performed at regular intervals, such as monthly meetings or annual audits.

Situational Events

Circumstances or occurrences that happen at a particular time and place, often influencing the outcome of scenarios.