Sheldon Ross 10: Exercise 3.92

Question: The number of coins that Josh spots when walking to work is a Poisson random variable with mean 6. Each coin is equally likely to be a penny, a nickel, a dime, or a quarter. Josh ignores the pennies but picks up the other coins.

  1. Find the expected amount of money that Josh picks up on his way to work.
  2. Find the variance of the amount of money that Josh picks up on his way to
    work.
  3. Find the probability that Josh picks up exactly 25 cents on his way to work.

Analytical Solution

 


Simulation Solution

 


Code

 


End of the post 😉


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