Last year a man wrote 142 checks. Let random variable x represent the number of...
stop2dance3l
Answered
2022-01-16
Last year a man wrote 142 checks. Let random variable x represent the number of checks he wrote in a day, and assume it has a Poisson distribution. What is the mean number of checks written per day?
Answer & Explanation
Durst37
Expert
2022-01-16Added 37 answers
Let X be the number of checks in 1 days
The rate of 142 checks in 365 days is same as 142/365 * 1=0.389041 in 1 days
X follows Poisson distribution with parameter (rate)
X Poisson ()
Mean of poisson random variable is equal to its rate parameter
Mean or expected value,
Variance of process is equal to its rate parameter
Variance,
Standard deviation of poisson random variable is equal to square root of its rate parameter i.e
Standard deviation,
Debbie Moore
Expert
2022-01-17Added 43 answers
The mean number of checks written per day is obtained as shown below:
Let x denotes the number of checks written per day.
From the information given, last year a person wrote 142 checks which means .
The mean is,
=0.389
The mean number of checks written per day is 0.389.
The variance is obtained as shown below:
The variance is,
=0.389
The variance is 0.389.
The standard deviation is obtained as shown below:
The standard deviation is,
=0.624
The standard deviation is 0.624.
The mean number of checks written per day is 0.389.
The variance is 0.389.
The standard deviation is 0.624.