Lights used to illuminate a long stretch of Highway 46 burn out at an average rate of

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Lights used to illuminate a long stretch of Highway 46 burn out at an average rate of 2.3 per day. (Assume that all the Poisson conditions are met.) Letting x represent values of the random variable “number of lights that burn out during any one day,” use the Poisson table to
a. Determine the probability that x = 2 (that is, the probability that exactly 2 lights will burn out on a randomly selected day).
b. Compute the expected number of lights that will burn out on a given day as E(x) = ∑[x. P(x)].
c. Compare your answer in part b to the value of λ.
d. Compute the variance for the distribution using the general expression σ2 = ∑[(x ─ E(x))2 • P(x)].
e. Compare your answer in part d to the value of λ. Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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