answers on on here, but please show me how they got the answer Engineers at the

Question

answers on on here, but please show me how they got the answer

Engineers at the University of New Mexico modeled the number of casualties (deaths or missing persons experienced by a deep-draft U.S. flag vessel over a 3-year period as a Poisson random variable, Y. The researchers estimated E(Y) to be 03. (Management Science, Jan. 1999.) a. Find the variance of Y. b. Discuss the conditions that would make the researchers' Poisson assumption plausible. c. What is the probability that a deep-draft U.S. flag vessel will have no casualties in a 3-year time period?

Explanation / Answer

a) Variance will be 0.03 because in poisson variable the mean and variance are equal.

b) The Poisson distribution arises when you count a number of events across time or over an area.

Some of the assumptions of the poisson variable are

c) Use the excel formula

POISSON.DIST(0,0.03,FALSE) = 0.9704

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