The lengths of what are considered "1 inch" bolts are found to be normally distributed with a mean of 1.001 inches and a standard deviation of 0.002 inches. If a bolt's length is more than 2 standard deviations away from the mean, it is rejected for not meeting factory tolerances.
Questions:
1. What are the minimum and maximum lengths required for a bolt to meet factory tolerances?
2. What percentage of bolts will be rejected?