o. In a local law office, jobs to a printer are sent at a rafe of 8 Job3 pet hou

Question

o. In a local law office, jobs to a printer are sent at a rafe of 8 Job3 pet hour. Suppose that the number of jobs sent to a printer follows the Poisson distribution. a. What is the expected time between successive jobs? b. What is the probability that the next job will be sent within five minutes? 7. (Use computer) Despite the fact that home prices seem affordable and mortgage rates are at historic lows, real estate agents say they are showing more homes, but not selling more (The Boston Globe, March 7, 2009). A real estate company estimates that an average of five people show up at an open house to view a property. There is going to be an open house on Sunday a. What is the probability that at least five people will show up to view the property? b. What is the probability that fewer than five people will show up to view the property?

Explanation / Answer

Here the expected or estimate number of people to show up at open house to view a propoerty = 5

so the given distribution is poission one. where = 5

(a) Let say number of people who will show up is X

soPr(X 5) = POISSON (x 5 ; 5)

from poisson table

Pr(X 5) = POISSON (x 5 ; 5) = 0.5595

(b) Pr(x < 5) = POISSON(x < 5; 5) = 1 - 0.5595 = 0.4405

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