Find probability that company will experience 3 returns

Reference no: EM13210124

For the past four years, Armonco Manufacturing has been offering a three-year limited warranty on all appliances it manufactures. Although all appliances are given a unique serial number when manufactured, until this year Armonco had no capability of determining how often any appliance was brought to an authorized service facility. At the beginning of the year, the long-promised computer database linking all service facilities with a central system was finally operational. A preliminary report shows the following results for one of the appliances Armonco manufactures. 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 reandom variable.
0 .55
1 .25
2 .14
3 .04
4 .02

Determine the probability that the company will experience 3 returns in the next 2 months

Reference no: EM13210124

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