A baseball team loses 100000 for each consecutive day it rai
A baseball team loses $100,000 for each consecutive day it rains. Say X, the number of consecutive days it rains at the beginning of the season, has a Poisson distribution with mean 0.2. What is the expected loss before the opening game?
Detail answer please.
Solution
Mean of X is 0.2, so expected loss is 0.2*100000 = 20000
