Question

Part I: Normal Probability Distribution and Inverse Normal Probability
You will use Minitab or Excel to answer the following questions. No hand computation. Minitab users: You can learn about the options inside the dialogue box of Normal Distribution by calc > probability distributions > Cumulative Probability > A single value for form of input > Choose Normal for Distribution > Enter Value and parameters > Display a table of cumulative probabilities > OK

Use the ? button in the dialogue box for normal distribution to find the definitions and steps for cumulative probability and inverse cumulative probability if you need to.
Excel users: As soon as you type =NORM.DIST or NORM.INV, you will see choices of Excel functions for normal distributions immediately. Enter the arguments inside ( ).

Problem Statement: The tire mileage at the Everun Tire Company was described by a normal probability distribution with μ = 50,000 and ? = 4,000 miles.
Q1: What is the probability that the tire mileage will exceed Value, 60,000 miles?
Q2: What mileage guarantee should Everun Tire Co. set to ensure that no more than 2 % of the tires qualify for the guarantee? Here, the inverse cumulative normal probability is used.
In addition to the mean and standard deviation, you type in the number in each question in the input constant, and select one out of three options (probability density, cumulative probability, and inverse cumulative probability

Answer 1