Question

In: Statistics and Probability

The demand for a replacement part is a random variable having a Poisson probability distribution with...

The demand for a replacement part is a random variable having a Poisson probability distribution with a mean of 4.7. If there are 6 replacement parts in stock, what is the probability of a stock-out (i.e., demand exceeding quantity on hand)?

Expert Solution

Solution:

Given: The demand for a replacement part is a random variable having a Poisson probability distribution with a mean of 4.7.

That is: X = The demand for a replacement part follows Poisson probability distribution .

There are 6 replacement parts in stock.

We have to find:

P( a stock-out) =.......?

That is:

P( demand exceeding quantity on hand) =..........?

That is:
P( X > 6) =...........?

where

Thus Probability mass function of Poisson distribution is:

Thus

thus

orchestra answered 1 year ago

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