Posted by Brea on .
Suppose a tire manufacturer wants to set a mileage guarantee on its new XB 70 tire. Life tests revealed that the mean mileage is 47,900 miles and the standard deviation is 2,050. The manufacturer wants to set the guaranteed mileage so that no more than five percent of the tires will have to be replaced. What guaranteed mileage should the manufacturer set? (assume normality)