Q5 A tire manufacturer warranties its tires to last at least 20207 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26207 miles with standard deviation...

Extracted text: Q5 A tire manufacturer warranties its tires to last at least 20207 miles or "you get a new set of tires." In its experience, a set of these tires lasts on average 26207 miles with standard deviation 5138 miles. Assume that the wear is normally distributed. The manufacturer profits Rs. 200 on each set sold, and replacing a set costs the manufacturer Rs. 400. a) What is the probability that a set of tires wears out before 20207 miles? b) What is the probability that a set of tires wears out before 24207 miles and after 20207 miles? c) What is the cutoff value in terms of miles of the top 69% wearing out tires.