In: Math
USING EXCEL
If you have a Poisson process with parameter λ (λ is the average number of events occurring in an interval of given unit length), and if X is the number of events occurring in an interval of length t, then X has Poisson distribution with parameter λt. That is
Here λ = 0.5
a) t = 10, therefore mean() = λ * t = 5
In Excel use the function
POISSON.DIST(x,mean,cumulative)
where x .-> No. of events, mean = and cumulative which takes two options True or False.
True for probability inclusive of x and False for exactly x.
POISSON.DIST(0,5,FALSE) = 0.006738
b) We will find Prob for x between 0 & 5.
POISSON.DIST(5,5,TRUE) = 0.615
Required probability of more than 5 calls would be = 1 - 0.615 = 0.385
c) For 15 minutes,
Mean = = 15 * 0.5 = 7.5
so function would be
POISSON.DIST(7,7.5,TRUE) = 0.524
d) For 12 minutes,
= 12 * 0.5 = 6
First we need to find probability for calls between 0 to 10 using
POISSON.DIST(10,6,TRUE) = 0.957
Now we need to find probabilities of exactly 0, 1 & 2 calls in the same period. The sum of probability of all these three would need to be subtracted from prob of 0 to 10 calls to find probability of 3 to 10 calls.
0 call --> POISSON.DIST(0,6,FALSE) = 0.00247
1 call --> POISSON.DIST(1,6,FALSE) = 0.0148
2 calls --> POISSON.DIST(2,6,FALSE) = 0.044618
P( 3 to 10 calls) = 0.957 - 0.00247 - 0.0148 - 0.044618 = 0.895112