Suppose, household color TVs are replaced at an average age of \mu

Cariglinom5

Cariglinom5

Answered question

2021-11-27

Suppose, household color TVs are replaced at an average age of μ=7.4years after purchase, and the (95% of data) range was from 5.4 to 9.4 years. Thus, the range was 9.45.4=4.0 years. Let x be the age (in years) at which a color TV is replaced. Assume that x has a distribution that is approximately normal.
(a) The empirical rule indicates that for a symmetric and bell-shaped distribution, approximately 95% of the data lies within two standard deviations of the mean. Therefore, a 95% range of data values extending from μ2σ  μ+2σ is often used for "commonly occurring" data values. Note that the interval from μ2σ  μ+2σ is 4σ in length. This leads to a "rule of thumb" for estimating the standard deviation from a 95% range of data values.
Estimating the standard deviation
For a symmetric, bell-shaped distribution,
standard deviationrange 4high value 4low value
where it is estimated that about 95% of the commonly occurring data values fall into this range.
Use this "rule of thumb" to approximate the standard deviation of x values, where x is the age (in years) at which a color TV is replaced. (Round your answer to one decimal place.)
(b) What is the probability that someone will keep a color TV more than 5 years before replacement? (Round your answer to four decimal places.)
(c) What is the probability that someone will keep a color TV fewer than 10 years before replacement? (Round your answer to four decimal places.)

Answer & Explanation

inenge3y

inenge3y

Beginner2021-11-28Added 20 answers

Step 1
From the given information,
Let x be the age (in years) at which a color TV is replaced and x has a distribution that is approximately normal.
Mean(μ)=7.4
Step 2
a. According to range rule the standard deviation is approximately equal to one fourth of the range of the data so,
Standard deviation(σ)=Range4
Whereas, range=highest valuelowest value
=9.45.4
=4.0
Thus. Standard deviation (σ)=44=1.
Step 3
b. The probability that someone will keep a color TV more than 5 years before replacement can be computed as:
Thus, P(X>5)=1P(X5)
=1P(Xμσ57.41)
=1P(Z2.4)
=0.9918 [Z Probability value is taken from standard normal table]
Step 4
c. The probability that someone will keep a color TV fewer than 10 years before replacement is
P(X<10)=P(X<10)
=(Xμσ107.41)
=1P(Z<2.6)
=0.9953 [Z Probability value is taken from standard normal table]

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