In an inventory analysis it was conclude that on the average

In an inventory analysis it was conclude that, on the average, demands for a certain item were made 2 times per day. What is the probability that on the next 2 days this item is requested more than once?

Solution

Solution:

use a poisson distribution.

A Poisson random variable is the number of successes that result from a Poisson experiment. Theprobability distribution of a Poisson random variable is called a Poisson distribution.

Given the mean number of successes () that occur in a specified region, we can compute the Poisson probability based on the following formula:

Poisson Formula. Suppose we conduct a Poisson experiment, in which the average number of successes within a given region is . Then, the Poisson probability is:

P(x; ) = (e^-) (^x) / x!

where x is the actual number of successes that result from the experiment, and eis approximately equal to 2.71828.

Given: t = 2

P(X > 1) = 1 - P(X 1)

=1-[e^-2 2⁰ /0! +e^-2 2¹/1!]

0!=1 and 1!=1

=1-[e^-2 1/1 +e^-2 2/1]

= 1-0.406

=0.594

he probability that on the next 2 days this item is requested more than once is .594

=59.4%