Examlex
The Department of Commerce in a particular state has determined that the number of small businesses that declare bankruptcy per month is approximately a Poisson distribution with a mean of 6.4. Find the probability that more than 3 bankruptcies occur next month.
Standard Deviation
A statistic that measures the dispersion or variability in a dataset relative to its mean, indicating how spread out the numbers are.
Mean
The arithmetic average of a set of values, calculated by dividing the sum of these values by the number of values.
Standard Deviations
A measure of the amount of variation or dispersion of a set of values, indicating how much individual data points differ from the mean.
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