Question

         You have received 21 items today for warranty repair and are concerned about having enough...

         You have received 21 items today for warranty repair and are concerned about having enough resources set aside to cover the total repair costs without additional action on your part to request an override. From past experience, you are willing to assume that the repair costs are independent of one another, that the mean repair cost is $583, and the standard deviation is $217. Find the (approximate) probability that the total cost for these 21 items will exceed $13,500.

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Answer #1

Probability (approximate) that the total repair cost of 21 item exceed $13500 is 0.103

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