00:01
Hello student, in the given question, part a we have to find the mean waiting time between accidents.
00:19
So, to calculate the mean waiting time between the accidents, we can be calculated as reciprocal of the rate of poisson process.
00:50
Since here the mean value is equal to 3 .5 accident per year and rate is also 3 .5 per year.
01:15
Therefore, the mean waiting time between accidents is 1 upon 3 .5 which is equal to 0 .286 year or approximately 3 .43 months.
01:50
So, the average we expect to wait about 3 .43 months between accidents.
02:26
Now in part b, we have to find out the probability that less than one month elapses between accidents.
02:43
So, we need to convert probability of less than one month elapses between accidents.
03:04
So to find out this, we convert the mean waiting time between accidents from part 1 into the rate per month which is 1 upon 3 .5 upon 12 which is equal to 0 .02381 accidents per month...