Question 1(Multiple Choice Worth 5 points)
2 answers:
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To evaluate , you'd start by rewriting this as
and your first step of evaluation is to evaluate
.
When you evaluate , you have the following:
and this is undefined. Since you cannot perform the first step of the evaluation, you cannot evaluate .
ANSWER
0.9738 or 97.38%
EXPLANATION
Given:
Desired Outcome:
Probability that it will last 10 years
z-score for the sample:
p-value
For the z-score of 1.9376, the p-value is 0.9738 or 97.38%
Hence, the probability that it will last longer than 10 years if you randonly purchase one item is 97.38%