The Mean Number of Accidents to Occur at a Busy

question 2

Short Answer

The mean number of accidents to occur at a busy intersection during a 24-hour period has a Poisson distribution.If the probability of no accidents during a 24-hour period is 0.1165,what is the mean number of accidents,rounded to two decimal places,per 24-hour period?

---

Definitions:

Compounded Annually

Interest calculation method where interest is added to the principal at the end of the year, affecting the total interest earned or paid.

RRSP

Registered Retirement Savings Plan, a Canadian account for holding savings and investment assets, with certain tax benefits.

Compounded Semi-annually

The technique of twice yearly adding interest to the initial sum of money and to the interest that has previously been compounded.

End-of-quarter Payments

Payments made at the end of each quarter in a financial year, often related to dividends, loans, or leases.