Liam puts $2000 in the bank with a 3% annual interest rate compounded annually. if Liam does not touch his money how much money
2 answers:
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Answer:
a) 0.122
b) 3.35 × 10⁻⁴
c) 0.1071
Step-by-step explanation:
Here we have the Poisson process given by
Where:
λ = Rate = 4 bites/hour and
t = Length of time that is
Mean = λt
Where k = 6 fishes bites and t = 2 hours we have
b) The probability that he fails to catch any fishes during the first two hours is the probability t that he catches 0 fish as follows
(c) Here we have
For 1 fish caught in two times we have first time no fish and second time he caches a fish gives
0.122×(1-0.122) = 0.1071