Question

A baseball team loses nothing for the first consecutive day it rains and 100,000$ for each such consecutive day it rains thereafter, until the opening game of the season. Say X, the number of consecutive days it rains at the beginning of the season, has a Poisson distribution with mean 0.25. What is the expected loss for the baseball team before the opening game of the season? Show your work.

Answer 1

Answer:

Given,

E(Y) = 100,000$

E(X) =0.25

for each number of consecutive days it rains the loss is $100,000

so we can say that the loss is also distributed with Poisson distribution with mean 0.25*100,000=$25,000 loss.

since if we multiply the data set with a constant the expected value increases, and is equal to the constant times the before expected value is 25000

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