Question: What is the chance of having exactly three blocks mined within the next 10 minutes? You can assume that a new block is mined every 10 minutes on average.
To calculate the probability of having exactly three blocks mined within the next 10 minutes (which is almost impossible) I used the poisson formula and I got p(3;1) =0.0613
So I'd say that there's a 6.13% chance of having exactly three blocks mined within the next 10 minutes.
I could have loved to explain how I got my answer in details but my keyboard isn't giving me every thing I need to type.
The poisson formula looks like this, p(x;a) = (e^(-a) *a^x) / x!
I used "a" to replace the symbol I couldn't find in my keyboard.
It seems newbies aren't allowed to send a picture here because I did my calculations in my notebook as it would have been easier for me to drop a picture of my calculations. I may be wrong though with my answer but am delighted to participate.