A store selling newspapers orders only n = 4 of a certain newspaper because the manager does not get many calls for that publication. If the number of requests per day follows a Poisson distribution with mean 3, (a) What is the expected value of the number sold? (b) What is the minimum number that the manager should order so that the chance of having more requests than available newspapers is less than 0.05?

Answer:a) The expected value is 2.680642b) The minimun number of newspapers the manager should order is 6.Step-by-step explanation:a) Lets call X the demanded amount of newspapers demanded, and Y the amount of newspapers sold. Note that 4 newspapers are sold when at least four newspaper are demanded, but it can be more than that. X is a random variable of Poisson distribution with mean [tex] \mu = 3 [/tex] , and Y is a random variable with range {0, 1, 2, 3, 4}, with the following values PY(k) = PX(k) = ε^(-3)*(3^k)/k! for k in {0,1,2,3}PY(4) = 1 -PX(0) - PX(1) - PX(2) - PX (3) we obtain:PY(0) = ε^(-3) = 0.04978..PY(1) = ε^(-3)*3^1/1! = 3*ε^(-3) = 0.14936PY(2) = ε^(-3)*3^2/2! = 4.5*ε^(-3) = 0.22404PY(3) = ε^(-3)*3^3/3! = 4.5*ε^(-3) = 0.22404PY(4) = 1- (ε^(-3)*(1+3+4.5+4.5)) = 0.352768E(Y) = 0*PY(0)+1*PY(1)+2*PY(2)+3*PY(3)+4*PY(4) =  0.14936 + 2*0.22404 + 3*0.22404+4*0.352768 = 2.680642The store is expected to sell 2.680642 newspapersb) The minimun number can be obtained by applying the cummulative distribution function of X until it reaches a value higher than 0.95. If we order that many newspapers, the probability to have a number of requests not higher than that value is more 0.95, therefore the probability to have more than that amount will be less than 0.05we know that FX(3) = PX(0)+PX(1)+PX(2)+PX(3) = 0.04978+0.14936+0.22404+0.22404 = 0.647231FX(4) = FX(3) + PX(4) = 0.647231+ε^(-3)*3^4/4! = 0.815262FX(5) = 0.815262+ε^(-3)*3^5/5! = 0.91608FX(6) = 0.91608+ε^(-3)*3^6/6! = 0.966489So, if we ask for 6 newspapers, the probability of receiving at least 6 calls is 0.966489, and the probability to receive more calls than available newspapers will be less than 0.05.I hope this helped you!