Hi I have a probability question from my stochastic methods course. Please help =)
A casino has a game that makes payouts according to a Poisson process
with rate 5 per hour. The payout amounts are 1; 2, 3, . . . without limit,
and the probability that any given payout is equal to i is Payouts are
independent. Calculate the probability that there are no payouts of 1 or
4 in a given 10 minutes period.