Q2 Cars arrive at a parking lot at a rate of 20 per hour. Assume that a Poisson process model isappropriate. Answer the following questions. No derivations are needed but a justification of youranswers is necessary.Q2(viii.) Suppose each car pays a flat fee of $5 when it enters. What is the expected amount ofmoney the parking lot receives during an 8-hour day?Q2 (ix.) Now assume that the amount of fee each car pays is a random variable, i.e. the fee is $3or $5 or $6 with probabilities 1/4, 1/2, and 1/4 respectively. What is the expected amount ofmoney the lot receives during an 8-hour day?

here given, cars arrive at parking lot at rate of 20 per hour λ = 20 cars per hour

Answered: Q2(viii.) Suppose each car pays a flat…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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