Cabs pass your workplace according to a Poisson process with a mean of five cabs per hour.
a. Determine the mean and standard deviation of the number of cabs per 10-hour day.
b. Approximate the probability that more than 65 cabs pass within a 10-hour day.
c. Approximate the probability that between 50 and 65 cabs pass in a 10-hour day.
d. Determine the mean hourly rate so that the probability is approximately 0.95 that 100 or more cabs pass in a 10-hour day.
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