At a used car dealer, cars of a specific type arrive according to a homogeneous Poisson process {N(t), t ≥ 0} with intensity λ. Let {T 1 , T 2 , ...} be the corresponding arrival time process. The car...

At a used car dealer, cars of a specific type arrive according to a homogeneous Poisson process {N(t), t ≥ 0} with intensity λ. Let {T₁, T₂, ...} be the corresponding arrival time process. The car arriving at time T_i
can immediately be resaled by the dealer at price C_i
ly distributed as C. However, if a buyer acquires the car, which arrived at T_i, at time Ti + t, then he only has to pay an amount of

At time t, the dealer is in a position to sell all cars of this type to a customer. What will be the mean total price the car dealer achieves?