Reference no: EM131651884

Question: Your company president has told you that the company experiences product returns at the rate of two per month with the number of product returns distributed as a Poisson random variable. Determine the probability that next month there will be

a. no returns

b. one return

c. two returns

d. more than two returns

e. In the last three months your company has had only one month in which the number of returns was at most two. Calculate the probability of this event occurring. What will you tell the president of your company concerning the return rate? Make sure you support your statement with something other than opinion.