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The Poisson Distribution Can Be Used to Model a Continuous

question 175

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The Poisson distribution can be used to model a continuous random variable.


Definitions:

Just-in-Time

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs.

Service Sector

The segment of the economy that produces intangible goods, such as services rather than physical products, including industries like healthcare, education, and finance.

Labour-intensive

Describing industries or processes that require a large amount of manual labor input compared to capital investment.

Automate

The use of technology to perform tasks with minimal human intervention, often to increase efficiency and reliability.

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