Explain the Characteristics and Applications of Discrete Probability Distributions Use

question 7

Multiple Choice

Explain the characteristics and applications of discrete probability distributions Use the data given below to answer the following question(s) .
On an average, the number of students that choose to study Arts subjects at Greyin Tide University is 17 each year. (Hint: Use Poisson distribution formula) .
-What is the probability that exactly 13 students will take up Arts in the coming year?

• A) 0.08795
• B) 0.20087
• C) 0.04798
• D) 0.06585

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Definitions:

Ending Work

Refers to the value of work-in-process inventory at the end of an accounting period.

Activity-Based Costing

A method in accounting that assigns costs to products or services based on the activities required to produce or deliver them.

Overhead Costs

Indirect costs associated with operating a business, such as utilities, rent, and administrative expenses, not directly tied to a specific product or service.

Arbitrary Allocations

The distribution of costs based on criteria that may not precisely reflect the actual consumption or benefit of those costs.