please use R to answer the following question: Assume you represent a worldwide distributor of classic cars. Create a Monte Carlo simulation with 10,000 trials to demonstrate the property that, if the amount of time it takes before your next customer makes a purchase can be modelled using an exponential distribution with a rate of 10 per day, then the number of times customers will make purchases in a day will follow a Poisson distribution with λ=10. Develop a histogram to reinforce your result.

please use R to answer the following question: Assume you represent a worldwide distributor of classic cars. Create a Monte Carlo simulation with 10,000 trials to demonstrate the property that, if the amount of time it takes before your next customer makes a purchase can be modelled using an exponential distribution with a rate of 10 per day, then the number of times customers will make purchases in a day will follow a Poisson distribution with λ=10. Develop a histogram to reinforce your result.

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter24: Forecasting Models

Section24.8: Multiple Regression

Problem 9P

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