Find the Value of a Normal Random Variable

question 90

Multiple Choice

Find the Value of a Normal Random Variable
-The tread life of a particular brand of tire is a random variable best described by a normal distribution with a mean of 60,000 miles and a standard deviation of 2900 miles. What warranty should the company use if they want 96% of the tires to outlast the warranty

• A) 54,925 mi
• B) 65,075 mi
• C) 57,100 mi
• D) 62,900 mi

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Definitions:

Consideration

The value (such as money, a promise, or a service) that is given by both parties in a contract making the agreement legally binding.

Personal Property

Movable assets owned by an individual or entity, as opposed to real estate or land.

Article 2A

A section within the Uniform Commercial Code that covers the law of leases of personal property.

Good Faith

A sincere intention to deal fairly with others, without taking advantage of them.