Laptop computers produced by a company have an average life of 38.36 months. Assume that the life of a computer is exponentally distributed. (which is a good assumption)
a. what is the probability the compute 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 answers to (b) would you say the compan can afford to give a warranty of 12 months?
d. if the company wants not more then 5% of the computes to fail during the warranty period, what should be the warranty period?
e. if the company wants to give a warranty period of 3 months and still wants not more then 5% of the computers to fail during warranty period, what should be the minimum avaerage life of the computers?