|
Stout Tire Simulation |
|
StoutTire Compnay has produced a new tire with an estimated mean lifetime
mileage of 36,500 miles. Management also believes that the standard deviation is
5000 miles and the tire mileage is normally distributed. Use a worksheet to
simulate the miles obtained for a sample of 500 tires. Use the Excel COUNTIF function to determine the number of tires that last longer than 40,000 miles? Use COUNTIF to find the number of tires that obtain mileage less than 32,000 miles. Then, find the number with less than 30000 miles and number with less than 28,000 miles. If management would like to advertise a tire mileage guarantee such that approximately no more than 10% of the tires would obtain mileage low enough to qualify for the guarantee, what tire mileage considered in part 2 would you recommend for the guarantee? |