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Finance 8 Online
Dangalla:

The fluorescent light tubes made by the company Well-lit have lifetimes which are normally distributed with mean 2019 hours and standard deviation 20 hours. The company decides to promote its sales of the tubes by guaranteeing a minimum life of the tubes, replacing free of charge any tubes that fail to meet this minimum life. If the company wishes to replace only 3% of the tubes sold, find the guaranteed minimum it must set.

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