I'm trying to tackle the following problem:
Let $N_t, t\geq 0$ be a Poisson process with rate $\lambda = 5$ occurrences/day.
Given that there are $3$ occurrences in the first $12$ hours, what is the expected number of occurrences in the first day?
I believe what I am to compute is $\mathbb{E}(N_1 | N_{0.5} = 3$). I'm not sure how to go about this, since the interval $[0, 0.5] \in [0,1]$, although I do have some thoughts:
- By the memoryless principle, could we argue that the conditional observation, $N_{0.5} = 3$, doesn't quite matter when looking at the entire interval?
- If my first thought is faulty (which I have a haunch that it is), could I break down $\mathbb{E}(N_1 | N_{0.5} = 3$) into two expectational values, one for each interval of 12 hours? We know that there were 3 occurrences in the first 12 hours, should I be looking for the expectation of the second interval? How would I do that?
I'm not entirely confident where to go from here- any help would be appreciated.