A granola mix sells for $8.99 a pound. Tung wants to buy a bag of granola mix that weighs 7.8 pounds. The bag of granola mix wil
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Answer:
1.732
Step-by-step explanation:
You are given that claims are reported according to a homogeneous Poisson process
LetX be the waiting time from 0 to second claim
X is Poisson with averageof 3 hours.
We know in a Poisson distribution the mean = variance
Hence average waiting time = mean = 3
This will also be equal to var(x)
Var(x) = mean of Poisson distribution= 3
Hence standard deviation = square root of variance
=