Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

A certain public television station needs money badly and runs a fund-raising TV entertainnn'nit program. Assume that pledges arrive by phone according to a Poisson

image text in transcribed
A certain public television station needs money badly and runs a fund-raising TV entertainnn'nit program. Assume that pledges arrive by phone according to a Poisson process, with intensity 2 pledges per minute during the one-hour length of the program. (a) Determine the probability that there are no pledges in a 3-minute period. (1)) Suppose the hourlong program is divided into 20 intervals each of length 3 minutes. Give an expression for the probability that exactly y of these intervals receive no pledges. (e) If each pledge is worth $20, nd the expected value and the variance of the total amount of the pledges over the 60 minute program? ((1) Using R, run a simulation of the amount received in a one hour program. Repeat this 100000 times and (mnpare the relative frtxlnency that the total annlnt pledged exceeds $3000 with the probability of this event. (you may use rpois)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Interest Theory

Authors: Leslie Jane, James Daniel, Federer Vaaler

3rd Edition

9781470465681

Students also viewed these Mathematics questions