SOLUTION: The U.S. mint, which produces billions of coins annually, has a mean daily defect rate of 4 coins. Let X be the number of defective coins produced on a given day. On a given day

Question 1020364: The U.S. mint, which produces billions of coins annually, has a mean daily defect rate of 4 coins. Let X be the number of defective coins produced on a given day.
On a given day, what is the probability of 3 or fewer defective coins
On a given day, what is the probability of more than 3 defective coins?
On a given day, what is the probability of exactly 4 defective coins
what is the variance?

Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
This is an example of a rare event, so the Poisson distribution is the most appropriate to use.

The in this case is equal to 4.
==>The probability of 3 or fewer defective coins would be p(0) +p(1) + p(2) + p(3) = , to 5 decimal places.
==> The probability of more than 3 defective coins is 1 - 0.43347 = 0.56653.
The probability of exactly 4 defectives is , to 5 decimal places.
For the Poisson distribution, .
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