15 3/4 % is equal to which decimal
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We should first calculate the average number of checks he wrote per day. To do that, divide 169 by 365 (the number of days in a year) and you get (rounded) 0.463. This will be λ in our Poisson distribution. Our formula is
. We want to evaluate this formula for X≥1, so first we must evaluate our case at k=0.
To find P(X≥1), we find 1-P(X<1). Since the author cannot write a negative number of checks, this means we are finding 1-P(X=0). Therefore we have 1-0.3706=0.6294.
There is a 63% chance that the author will write a check on any given day in the year.<em />
To find P(X≥1), we find 1-P(X<1). Since the author cannot write a negative number of checks, this means we are finding 1-P(X=0). Therefore we have 1-0.3706=0.6294.
There is a 63% chance that the author will write a check on any given day in the year.<em />