Question

Johnson has recently open his workshop at the main street of a major city in the North East. Johnson estimates about 20 cars arriving at his workshop for repairs everyday. Based on industry data, he estimates that 40% of the arrivals will agree to have the work repaired at his workshop. His average daily cost at the workshop is $1200. He expects to make a revenue of $200 for each car that is repaired. Johnson would like to know the following information:A) The probability that no car will arrive at his workshop for repair on a given day. B) The probability that he will have at least 4 cars to repair on a given day. C) The expected daily profit assuming that he is able to repair all the arriving cars in a day. D) Develop a probability distribution for this problem.

Answer 1

a=0.000000002

b=0.95762

c=$2800

Explanation:

Kindly check attached picture for other calculation and the Poisson Probability Distribution for the problem.