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Determining the approximate probability

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Customers come to a large store that is open every hour of the day following the Poisson process, and let's assume that there are an average of 30 customers per hour. Answer the questions below. Do not forget to explain steps and mention formulas name you use while solving.

a) What is the approximate probability that the number of customers coming to this store in 24 hours will be between 705 and 740?

b) At the end of each day, bonuses are given to store employees according to the total number of customers coming for the last 24 hours according to the table below.

Number of Customers : Bonus Amount

Less than 700 : Bonus Not Paid

Between 700 and 749 : 1000 TL

750 and above : 3000 TL

In this case, approximately how much bonus will be awarded on average for/in a 24 hour period?

Reference no: EM132852509

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