In a certain city, the daily consumption of petroleum in thousand barrels of oil can be treated as a random variable having a gamma distribution with a = 3 and 0 = 4. If the petroleum supply of this city has a daily capacity of 24 thousand barrels of oil, what is the probability that this petroleum supply will be inadequate on any given day? Find this probability using the relation between gamma and Poisson distributions.
In a certain city, the daily consumption of petroleum in thousand barrels of oil can be treated as a random variable having a gamma distribution with a = 3 and 0 = 4. If the petroleum supply of this city has a daily capacity of 24 thousand barrels of oil, what is the probability that this petroleum supply will be inadequate on any given day? Find this probability using the relation between gamma and Poisson distributions.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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![In a certain city, the daily consumption of petroleum in thousand barrels of oil can be
treated as a random variable having a gamma distribution with a = 3 and 0 = 4.
If the petroleum supply of this city has a daily capacity of 24 thousand barrels of oil,
what is the probability that this petroleum supply will be inadequate on any given
day?
Find this probability using the relation between gamma and Poisson distributions.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe3b2b977-49e2-428f-b276-1fc0022629e3%2F1f4d0395-3a37-4e0f-8b9d-010fc6df62b6%2Frg9r2jl_processed.png&w=3840&q=75)
Transcribed Image Text:In a certain city, the daily consumption of petroleum in thousand barrels of oil can be
treated as a random variable having a gamma distribution with a = 3 and 0 = 4.
If the petroleum supply of this city has a daily capacity of 24 thousand barrels of oil,
what is the probability that this petroleum supply will be inadequate on any given
day?
Find this probability using the relation between gamma and Poisson distributions.
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