A technology company manufactures smartphones and would like to seta warranty period wherein the company would replace any smartphone that failed within the warranty period. Prior research has shown that the average lifespan of the smartphone is 43 months with a standard deviation of 7 months (and the distribution of all smartphone lives is known to be normally distributed). The technology company’s management has decided that it wants to replace no more than 14% of the smartphones it sells. Determine the length of the warranty period for these smartphones so that no more than 14% should fail within the warranty period. Round the solution to the nearest whole number, if necessary.The warranty period should be months.Suppose someone in the marketing department mistakenly printed that the warranty period for the smartphones was 37 months. What percentage of the smartphones should the company expect to fail and be required to replace? Round the solution to one decimal place, if necessary.The company should expect to replace %, which is much higher than the desired 14%.MathStatistics and Probability STA 2023
