Give an example, USING YOUR OWN WORDS (NOT TEXT COPIED FROM THE INTERNET), of ho

Question

Give an example, USING YOUR OWN WORDS (NOT TEXT COPIED FROM THE INTERNET), of how a either the Poisson or the Exponential distribution could be used to model something in real life (only one example is necessary). You can give an example in any area that interests you (a list of ideas is below). Give a very rough description of the sample space.

When forming your answer to this question you may give an example of a situation from you own field of interest for which a random variable, possibly from one of the types that are presented in this unit, can serve as a model. Discuss the importance (or lack thereof) of having a theoretical model for the situation. People can use models to predict business conditions, network traffic levels, sales, number of customers per day, rainfall, temperature, crime rates, or other such things.

Explanation / Answer

Poisson Distribution: Taking the example of Poisson distribution in a particular scenario explained below.

Let us consider a problem statement, where we have a hospital and we need to find out the quality and equipment , to be installed in it. For this we will come across a question that how many road accidents can occur near hospital area or what is the probability of k number of accidents happening in a day.

In some cases it is believed that number of accidents follow poisson distribution and it is important to use this theoretical number to understand how much the hospital equipments should be increased.

In general, there are lot of other things where poisson distribution is used like for example crime rates,number of customers per day etc. Hence it is important to know this distribution and its graph

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