A microprocessor manufacturing facility produces 300 microprocessors per hour. The probability that an individual chip is faulty is 0.01. Calculate the probability that in a given hour's production:
a) Two chips are faulty
To find $\lambda$ I multiply
0.01*300 = 3
I am not sure though if I have to take the time into account(1 hour(60))?
Or if the question takes this into account.
Then finding P(2 microchips)
$3^2$* $e^{-3}$ / 2! = .22
But this seems awfully high to me 22% are my calculations off??