Two Characteristics, or Assumptions, of the Poisson Distribution Are That

question 26

Multiple Choice

Two characteristics, or assumptions, of the Poisson distribution are that

• A) the probability of success remains constant from trial to trial, and the random variable of interest is continuous.
• B) the event occurring in any interval is independent of the event occurring in any other nonoverlapping interval, and the random variable of interest is continuous.
• C) the event occurring in any interval is independent of the event occurring in any other nonoverlapping interval, and the random variable of interest is discrete.
• D) the event occurring in any interval is dependent on the event occurring in any other nonoverlapping interval, and the random variable of interest is continuous.

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Definitions:

BFOQ

Stands for "Bona Fide Occupational Qualification," a legal term that allows for the consideration of characteristics normally deemed discriminatory if they are essential to a job's operation.

Mutual Mistake

A contract law term where all parties involved have a mistaken understanding about a crucial aspect of the agreement.

Basic Assumption

A fundamental belief or principle that is accepted as true without need for proof, underlying the basis of an argument or theory.

Material Effect

An impact significant enough to influence a decision, outcome, or valuation, often used in legal and financial contexts.