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    A newsagent has 4 copies of a particular magazine in stock. She knows that demand for this magazine follows a poisson distribution with mean U, where U is an integer.
    The newsagent has observed that she is unable to meet the demand for the magazine about 1 week in 20.
    A) use statistical tables provided to find the value of U.
    B) the newsagent makes a loss on the magazines unless she sells at least 2. Find the probability that she makes a loss.
    C) the newsagent decides to increase her stock so that she is only able to
    meet demand in 1 week in 100. Find the number of magazines she must have in stock.

    Please can somebody come to the rescue; i don't have a clue where to start
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    (Original post by shubhondeb)
    A newsagent has 4 copies of a particular magazine in stock. She knows that demand for this magazine follows a poisson distribution with mean U, where U is an integer.
    The newsagent has observed that she is unable to meet the demand for the magazine about 1 week in 20.
    A) use statistical tables provided to find the value of U.
    B) the newsagent makes a loss on the magazines unless she sells at least 2. Find the probability that she makes a loss.
    C) the newsagent decides to increase her stock so that she is only able to
    meet demand in 1 week in 100. Find the number of magazines she must have in stock.

    Please can somebody come to the rescue; i don't have a clue where to start
    Start by converting the english into mathematics. Take it one sentence at a time. See what you can do.
 
 
 
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Updated: October 11, 2017
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