Once an employee gets sick, a policy pays 100 each day for up to five days....
Once an employee gets sick, a policy pays 100 each day for up to five days. The number of days a policy must pay for sick employees under this policy is Poisson distributed with mean 2. Find the expected amount the policy will need to pay per employee.
Homework Answers
Given,
X follows poisson with mean 2.
Employee will get 100 per day when he is sick.
Expected number of days on which employee is sick=2
The expected amount of policy will need to pay per employee = 2*100 =200
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Once an employee gets sick, a policy pays 100 each day for up to
five days....
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