5.1. A garage has 3 cars available for daily hire. Calculate the following if the variable is a Poisson variable with a mean of 2. 5.1.1. Find the probability that on any given day exactly none, one, two and 3 cars will be hired, and determine the mean number of cars hired per day. 5.1.2. The cost of hiring a car is R25 per day, and the total outgoings per car irrespective of whether or not it is hired, are R5 per day. Determine the expected daily profit from hiring these 3 cars.

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Question 5:
5.1. A garage has 3 cars available for daily hire. Calculate the
following if the variable is a Poisson variable with a mean of 2.
5.1.1. Find the probability that on any given day exactly none, one,
two and 3 cars will be hired, and determine the mean number of
cars hired per day.
5.1.2. The cost of hiring a car is R25 per day, and the total
outgoings per car irrespective of whether or not it is hired, are R5
per day. Determine the expected daily profit from hiring these 3
cars.
Transcribed Image Text:Question 5: 5.1. A garage has 3 cars available for daily hire. Calculate the following if the variable is a Poisson variable with a mean of 2. 5.1.1. Find the probability that on any given day exactly none, one, two and 3 cars will be hired, and determine the mean number of cars hired per day. 5.1.2. The cost of hiring a car is R25 per day, and the total outgoings per car irrespective of whether or not it is hired, are R5 per day. Determine the expected daily profit from hiring these 3 cars.
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