2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly r...
2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly repair costs for a certain type of machine. Records over the past years indicate that these repair cost have an exponential distribution with mean 20 for each machine studied. Let Y1, Y2, ..., Ysdenote the repair costs for five of these machines for the next week. Find a number c such that P(Σ.Ρ c)- .05, assuming that the machines operates independently. [Hint: use the following fact: U--Ύ2 (2), if Y~ exp(mean θ)
2. (a) Given that N-n, the conditional distribution of Y is x The unconditional distribution of N is Poisson (8). Calculate E(Y) and Var(Y). (b) A plant supervisor is interested in budgeting weekly repair costs for a certain type of machine. Records over the past years indicate that these repair cost have an exponential distribution with mean 20 for each machine studied. Let Y1, Y2, ..., Ysdenote the repair costs for five of these machines for the next week. Find a number c such that P(Σ.Ρ c)- .05, assuming that the machines operates independently. [Hint: use the following fact: U--Ύ2 (2), if Y~ exp(mean θ)