Exponential probability
Laptop computers produced by a company have an average life
of 38.36 months. Assume that the life of a computer is exponentially
distributed (which is a good assumption).
a. What is
the probability that a computer will fail within 12 months.
b. If the
company gives a warranty period of 12 months, what proportion of computers will
fail during the warranty period?
c. Based on
the answer to (b) would you say the company can afford to give a warranty
period of 12 months?
d. If the
company wants not more than 5% of the computers to fail during the warranty
period, what should be the warranty period?
e. If the
company wants to give a warranty period of three months and still wants nor
more than 5% of the computers to fail during the warranty period, what should
be the minimum average life of the computers?
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