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Family 5
Poisson + expected cost
These 2 topics share one solution. Spot the family, apply the method — same trick, different story.
How to spot this family
- Cyclones, Poisson + expected damage："number of cyclones per year has a Poisson distribution with mean λ" · a) at least k times · b) , find E[X]
- Machine failures, Poisson + expected cost："number of machine failures per month ~ Poisson(λ)" · "facilities can repair m machines; any additional → outside contractor" · a) asks for the probability that "an outside contractor is needed" → this is P(Y ≥ m+1)
Topics in this family
Topic 17New
Cyclones, Poisson + expected damage
5
Topic 20New
Machine failures, Poisson + expected cost
2
Related knowledge points
The concepts behind this family's method — brush up first if unsure.