Suppose that the number of accidents occurring in an industrial plant is described by a Poisson distribution

Question:

Suppose that the number of accidents occurring in an industrial plant is described by a Poisson distribution with an average of one accident per month. Let x denote the time (in months) between successive accidents.

a. Find the probability that the time between successive accidents is:

(1) More than two months.

(2) Between one and two months.

(3) Less than one week (1 4 of a month).

b. Suppose that an accident occurs less than one week after the plant’s most recent accident. Would you consider this event unusual enough to warrant special investigation? Explain.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...