Question: Customers arrive at the automatic teller machine in accordance with a Poisson process with rate 10 per hour. The amount of money withdrawn on each

Customers arrive at the automatic teller machine in accordance with a Poisson process with rate

10 per hour. The amount of money withdrawn on each transaction is a random variable with mean

$40 and standard deviation $10. (A negative withdrawal means that money was deposited.) The

machine is in use for 15 hours daily. Approximate the probability that the total daily withdrawal

is greater than $4,000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!