Recall Problem 4.2.7 concerning the arrivals at a factory first-aid room. (a) What is the distribution of

Question:

Recall Problem 4.2.7 concerning the arrivals at a factory first-aid room.
(a) What is the of the time between the first arrival of the day and the fourth arrival?
(b) What is the expectation of this time?
(c) What is the variance of this time?
(d) By using (i) the gamma and (ii) the Poisson show how to calculate the probability that this time is longer than three hours.
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...