Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Arrival of vehicles at New Jersey Turnpike toll booth on Saturdays at dawn is modeled as a Poisson Arrival process with a rate of 1.21 vehicles per minute. Let X be a random variable that records the number of arrivals between 4:45AM and 5:15AM.

(a) Is this variable finite discrete, infinite discrete, or continuous?

(b) What is the distribution of X and the expected value of X?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M93111684
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Business Economics

Question onethe following is the number of first year

QUESTION ONE The following is the number of first year students who selected the three mathematics units for trimester one; Unit Number of students Calculus only 20 Calculus but not Statistics 22 Calculus and Real analys ...

The number of phone calls that arrive at a phone exchange

The number of phone calls that arrive at a phone exchange is often modeled as a Poisson random variable. Assume that on average there are 7 calls per hour. Show all work. a)  Find the probability that there are exactly f ...

A box contains n white and m black balls one ball is added

A box contains n white and m black balls. One ball is added randomly, white with probability p and black with probability 1 - p. Then a random ball is taken out from the box. (a) Find the probability that the taken ball ...

A sample of 1000 us households is taken and the average

A sample of 1,000 U.S. households is taken and the average amount of newspaper garbage or recycling is found to be 27.8 pounds. Assuming the standard deviation of newspaper for garbage or recycling is 2 pounds. Estimate, ...

The cost of a starbucks grande caffe latte varies from city

The cost of a Starbucks Grande Caffe Latte varies from city to city. However, the variation among prices remains steady with a standard deviation of $0.26. A research was done to test the claim that the mean cost of a St ...

What is the result of a price ceiling and why do some

What is the result of a price ceiling? And why do some consumers tend to favor price ceilings and others tend to oppose it?

The diet doctor claims that the average north american is

The diet doctor claims that the average North American is more than 20 pounds overweight. To test his claim, a random sample 30 Of north Americans was weighted, the difference between their actual weight and their ideal ...

Discuss three ranges of the aggregate supply curve explain

Discuss three ranges of the aggregate supply curve. Explain changes in the AD-AS macroeconomic equilibrium due to the aggregate demand shifts and due to aggregate supply shifts. Apply the AD-AS model to the two types of ...

Please discuss your thoughts on the us governments role in

Please discuss your thoughts on the U.S. Governments role in protecting our financial markets. Do you think that the Federal Reserve and the Treasury Department should have saved the Wall Street Giants? What is your posi ...

In the course of producing its output this firm causes

In the course of producing its output, this firm causes pollution. The government passes a law that requires the firm to stop polluting, and the firm discovers that it can prevent the pollution by hiring 0.2 workers for ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As