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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?
Accurate
Characterized by precision and correctness in details or measurements.
Cent
A monetary unit in many countries, equal to one-hundredth of the base unit of currency, such as the dollar or euro.
Evaluate
To assess or judge the value, nature, or importance of something.
Decimal Equivalents
Numeric values expressed in decimal form that represent fractions, percentages, or other quantities for easier calculations.
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