If QuickStart does not want to make refunds for more than 7% of its batteries under the full-refund guarantee policy, for how long should the company guarantee the batteries (to the nearest month)?

quickstart batteries will need to be guaranteed for 26 months

Explanation:

the question is incomplete to calculate guarantee period given the maximum refund percentage of 7% we need the mean average life of Quick start batteries and a standard deviation. Let us assume that the mean average life of quickstart batteries is 36 months and standard deviation is 7 months.

P(Z < z*) = 0.07 has a z* = -1.48   [from the Standard Normal table]

Answer = 36 + (-1.48)(7) = 25.64 = 26 months or approximately 35 months

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; functional fixedness;