Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Poisson A store opens from 8am to 5pm. From 8am until 10am, customers arrive according to a Poisson process with rate 4 per hour. Between

image text in transcribedimage text in transcribed

Poisson

image text in transcribedimage text in transcribedimage text in transcribed
A store opens from 8am to 5pm. From 8am until 10am, customers arrive according to a Poisson process with rate 4 per hour. Between 10am and 12pm they arrive at a Poisson rate of 8 an hour. From 12pm to 2pm, the arrival rate increases steadily from 8 per hour at 12pm to 10 per hour at 2pm; and from 2pm to 5pm the arrival rate drop steadily from 10 per hour at 2pm to 4 per hour at 5pm. (a) Find a probability model for the number of the customers that enter the store in a given day. (b) Find the probability that at least 2 customers arrive at the store during 11am to 1pm. (0) Suppose that this store receives a benet $10 on average with a standard deviation $2 from each customer that enters to the store. Find the average benet of this store in a given day, together with its standard deviation. For a. day, the arrival rate can be written as 0, 0gt

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Discrete Mathematics

Authors: Gary Chartrand, Ping Zhang

1st Edition

1478616261, 9781478616269

More Books

Students also viewed these Mathematics questions

Question

3. What values would you say are your core values?

Answered: 1 week ago