Poisson Distribution Question - HELP!!!Watch this thread
The tenants of the building have a maintenance contract with the supplier of the lifts. The contract Is for 20 lifts of 12 weeks.
For every lift, if there is no break down, the tenants have to pay $500.
If there's at least 1 breakdown in the 12 week block, then the supplier will repair the lift free of charge and tenants pay nothing for that particular lift for the entire 12 week block.
Find the probability that over a particular 12 week period, no more than $1000 needs to be paid