The number of x of the people who arrive at a cashier%26#039;s counter in a bank during a specified period of timeexhibits a poisson probability with mean arrival rate of lambda. Suppose you estimate that the mean number of arrivals per minute for cashier service at a bank is one person per minute (i.e. lambda=1)
What is the probability that in a given minute the number of arrivals will equal to three?student loan consolidation
Well, basic probability eq. for n events happening in t time is:
Pn(t) = (e ^ (-lambda * t)) * ((lambda * t)^n) / n!
so for lambda =1, t=1, n=3:
P3(1) = (e ^ (-1)) * ((1)^3)) / 3! = 0.0613 or 6.13%
What is the probability that in a given minute the number of arrivals will equal to three?
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