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Wed 26 Dec, 2018 03:12 am
What is the best procedure to estimate Lambda to calculate the Poisson probability? Say I want to calculate P(X ≥1) of an accident occurring next day. For this I would calculate the average of daily accidents and divide it by 10. The question is, should I take the previous 10 days? Or calculate λ averaging i.e. 10 day periods for the last 200 days and divide them by 20? What would be the best?
Thank you much for any constructive comment.