51. A new Oxbridge professor wishes to buy a house, and can afford to spend up to one million pounds. Declining the services of conventional estate agents, she consults her favourite internet property page on which houses are announced at the times of a Poisson process with intensity λ per day. House prices may be assumed to be independent random variables which are uniformly distributed over the interval (800,000, 2,000,000). She decides to view every affordable property announced during the next 30 days. The time spent viewing any given property is uniformly distributed over the range (1, 2) hours. What is the moment generating function of the total time spent viewing houses?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
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51. A new Oxbridge professor wishes to buy a house, and can afford to spend up to one million pounds.
Declining the services of conventional estate agents, she consults her favourite internet property page
on which houses are announced at the times of a Poisson process with intensity λ per day. House
prices may be assumed to be independent random variables which are uniformly distributed over the
interval (800,000, 2,000,000). She decides to view every affordable property announced during the
next 30 days. The time spent viewing any given property is uniformly distributed over the range (1, 2)
hours. What is the moment generating function of the total time spent viewing houses?
Transcribed Image Text:51. A new Oxbridge professor wishes to buy a house, and can afford to spend up to one million pounds. Declining the services of conventional estate agents, she consults her favourite internet property page on which houses are announced at the times of a Poisson process with intensity λ per day. House prices may be assumed to be independent random variables which are uniformly distributed over the interval (800,000, 2,000,000). She decides to view every affordable property announced during the next 30 days. The time spent viewing any given property is uniformly distributed over the range (1, 2) hours. What is the moment generating function of the total time spent viewing houses?
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