At an auction of antique furniture a statistician kept track of the number of bids for each
Question:
At an auction of antique furniture a statistician kept track of the number of bids for each item. After an analysis of the figures she concludes that the number of bids is Poisson distributed with a mean of 2.5.
a. Calculate the probability that on any item the number of bids is 5 or more.
b. Compute the probability that there are no bids.
c. What is the probability that there are 3 bids or less?
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