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The Poisson Distribution Is Being Used to Approximate a Binomial

question 44

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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?


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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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