Michelin Tire Company wishes to set a minimum mileage guarantee on its new MX100 tire. Tests reveal the mean mileage is 67,900 with a standard deviation of 2,050 miles and that the distribution of miles follows the normal probability distribution. Michelin wants to set the minimum guaranteed mileage so that no more than 4 percent of the tires will have to be replaced. What minimum guaranteed mileage should Michelin announce

The minimum guaranteed mileage is  

Step-by-step explanation:

From the question we are told that

   The mean is  

     The standard deviation is  

Generally for the probability to be 4% the minimum guaranteed mileage is evaluated as

=>  

=>    

From the z table, the critical value corresponding to 0.96 to the left of the curve is  

So

=>    

the median here is 25. your lowest value is 14 and highest value is 48. to find the third quartile, find the medium number in between 25 and 48 which would be 42 i believe.

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