​ Post Office

question 143

Short Answer

​ Post office
The number of arrivals at a local post office between 3:00 and 5:00 P.M.has a Poisson distribution with a mean of 12. ​ ​
-{{Post Office Narrative} Find the probability that the number of arrivals between 4:00 and 5:00 P.M.is exactly two.

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Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Daily Interest Rate

The interest rate expressed as a daily percentage, indicating the amount of interest charged or earned each day.

Collection Float

The time delay between when a check is deposited and when the funds become available in the account.

Cheques

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or the person named on it.