Consider a Poisson Distribution with an Average of 3 Customers

question 113

Multiple Choice

Consider a Poisson distribution with an average of 3 customers per minute at the local grocery store. If X = the number of arrivals per minute, find the variance of X.

• A) 3
• B) 9
• C) 1.5
• D) 1.7

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Definitions:

Surety

represents a guarantee or security provided by a third party, ensuring the fulfillment of an obligation.

Surety

A person or entity that takes responsibility for another's performance of an undertaking, such as fulfilling the terms of a contract.

Principal's Obligation

A duty or responsibility that a principal must fulfill as part of an agreement, particularly in agency relationships.

Repayment Period

The time frame agreed upon within a loan agreement for the borrower to pay back the borrowed amount plus any applicable interest.