Suppose that the time owners keep their cars (purchased new) is normally distributed with a mean of 7 years and a standard deviation of 2 years. We are interested in how long an individual keeps his car (purchased new) Our population is people who buy their cars new.
a) 60% of individuals keep their cars at most how many years?
b) Suppose that we randomly survey one person. Find the probability that person keeps his/her car less than 2.5 years.