Examlex
The number of calls coming into a call center follows a Poisson distribution with a mean of 120 calls per hour. What is the probability of no calls in a one-minute interval?
Population Parameter
A numerical value that describes a characteristic of an entire population, such as its mean or standard deviation.
Sample Statistic
A numerical measure that describes some characteristic of a sample, such as the sample mean or sample standard deviation.
50th Percentile
Also known as the median, it is the value below which 50% of the observations in a group of data fall.
N - 1
A formula used to calculate the sample variance or sample standard deviation, representing the sample size minus one.
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