Assignment:
A new automated production process avenges 1.5 breakdowns per day. Because of the cost associated with a breakdown, management is concerned about the possibility of having three or more breakdowns during a day. Assume that breakdowns occur randomly, that the probability of a breakdown is the same for any two time intervals of equal length. and that breakdowns in one period are independent of breakdowns in other periods. What is the probability of having three or more breakdowns during a day?
Provide complete and step by step solution for the question and show calculations and use formulas.