Problem L4.7 (Calibration of a Poisson process.). Assume that the number of cars crossing an intersection follow a Poisson process. Let's focus only on cars that can fit at most 7 people, hence exclude the buses, minivans, and such. Pick up your favorite intersection in the Chicagoland, at a busy time (so you have enough data), and collect the needed data to calibrate the corresponding Poisson process. To calibrate a model means to tune the model parameters to the observed data. For Poisson process you have to tune only one parameter - the intensity λ. A critical modeling step is to indicate the measurement units entering the model, e.g. the time scale in this example.

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