document.write( "Question 1015833: if a bank receives on the average 6 bad checks perday what are the proba bilities that it will receive 1) 4 bad checks on any given day. 2) 10 bad checks over any 2 consecutive days. \n" ); document.write( "

Algebra.Com's Answer #632237 by mathmate(429) $\"\"$ $\"About$

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\n" ); document.write( "Question:
\n" ); document.write( "If a bank receives on the average 6 bad checks perday what are the proba bilities that it will receive 1) 4 bad checks on any given day. 2) 10 bad checks over any 2 consecutive days.
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\n" ); document.write( "Solution:
\n" ); document.write( "It is necessary to recognize the problem satisfies the conditions of the Poission distribution, namely:
\n" ); document.write( "a. The experiment results in outcomes that can be classified as successes or failures.
\n" ); document.write( "b. The average number of successes (μ) that occurs in a specified region is known.
\n" ); document.write( "c. The probability that a success will occur is proportional to the size of the region.
\n" ); document.write( "d. The probability that a success will occur in an extremely small region is virtually zero.
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\n" ); document.write( "The probability is given by:
\n" ); document.write( "P(x; μ) = (e^(- μ))*(μ^x) / x!
\n" ); document.write( "where μ=mean, x=number of occurrences
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\n" ); document.write( "Case 1: μ=6, x=4
\n" ); document.write( "P(6;4)= $\"%28e%5E%28-6%29%29%2A%286%5E4%29+%2F+4%21+=+0.13385\"$
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\n" ); document.write( "Case 2: μ=12, x=10
\n" ); document.write( "P(10;12)= $\"%28e%5E%28-12%29%29%2A%2812%5E10%29+%2F+10%21+=+0.10484\"$
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\n" ); document.write( "\n" ); document.write( "ref:http://stattrek.com/probability-distributions/poisson.aspx \n" ); document.write( "

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