trying to revise for exam on tues by doing some examples,
company finds that on average there is a claim for damages which it must pay 7 times in 10 years.
need to find out the probability of at least two claims during the first year.
I know how to do the poisson calculations but struggle on the initial figures.
do i need to divide 10/7 to find the mean for 1 year, which is 1.428571429?
then use that as e to the minu 1.428571429?
any help would be great