The Poisson Distribution Is Being Used to Approximate a Binomial

question 44

Multiple Choice

The Poisson distribution is being used to approximate a binomial distribution.If n=60 and p=0.02, what value of lambda would be used?

• A)0.02
• B)12
• C)0.12
• D)1.2
• E)120

---

Definitions:

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Suppliers

Businesses or individuals that provide goods or services to another entity, typically within a supply chain.

Chief Executive Officer

The highest-ranking officer in a company or organization, responsible for overall management and decision-making.

Insourcing

The practice of performing business functions or operations internally, rather than outsourcing them to external vendors.