Examlex
Consider a Poisson distribution with an average of 3 customers per minute at the local grocery store. Determine the expected number of customer arrivals for a five-minute period.
European Union
A political and economic union of 27 European countries that are located primarily in Europe, designed to foster economic cooperation.
Production Possibilities
Different combinations of goods and services that an economy can produce using all its resources efficiently.
Mutually Beneficial
Actions or agreements that provide benefits to all parties involved.
Specialize
To focus on a specific area of study, work, or activity, developing expertise and efficiency in that particular area.
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