2. In the Intel Fiasco problem seen in lecture, the probability that at least on
ID: 3022886 • Letter: 2
Question
2.
In the Intel Fiasco problem seen in lecture, the probability that at least one error would occur in 1 billion divisions is
The number of cars entering a parking lot at UCLA per hour averages 100 cars per hour. Each car must pay 5 dollars flat to park for the day, regardless of the number of hours one stays in the lot. What is the expected revenue per hour coming to UCLA from this park? What is the standard deviation of the hourly revenue? (Note: you will need to assume an appropriate distribution for this question.Explanation / Answer
Here the number of cars entering to a parking lot is a random variable and assumed to be poison distribution.
since here there an infinite trials ( entering a car for parking) and probability of success or failure is very less.
The average number of cars parking per hour = 100
Expected revenue per hour coming to UCLA = 100*$5 = $500
In poisond distribution , Mean = variance = 100
Standard deviation of the hourly revenue = sqrt (variance) = sqrt(100) =10
Note : 2nd question details not provided completely.
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