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Hello everyone.
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This question it is given that new car prices increases by about four times every three years.
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Right.
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So we have to find the given probabilities.
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So first we see that this is a case of poision distribution for which the function is given as e raised to the power minus lambda, lambda raised to the power x whole divided by x factorial where lambda down a parameter is equal to 4 in this question.
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So in part a we have to find the probability x is equals to 0.
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This is equals to e raised to the power minus 4, 4 raced to the power 0, 4 divided by 0 factorial.
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That is nothing but equals to e raise to the power minus 4.
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On solving this we get this is equal to 0 .0.
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183.
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Let us come to part b of the question.
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In part b we have to find the probability that x is equals to 4.
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So this will be e raised to the power minus 4, 4 raised to the power 4 divided by 4 factorial, which on solving is equal to 0 .1954...