QUESTION 5
A short term insurance company receives three motor vehicle claims, on average, per day. Assume that the daily claims follow a Poisson process.
a) What is the probability that more than four but less than eight motor vehicle claims will be received on any given day? (5)
b) What is the probability that more than two motor vehicle claim is received over any given period of three working days? (5)
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Finally Patiya told her what was worrying him. Granny agreed that they couldn't buy more paper. She thought for a while and then agreed to help him cut the paper and paste it on the lantern. ... Granny had long forgotten how to make Vesak lanterns, and Patiya had never learned.
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