A Statistic Professor Finds She Averages Five E-Mail Messages Per

question 69

Multiple Choice

A statistic professor finds she averages five e-mail messages per day from students. Assume the number of messages approximates a Poisson distribution.
What is the probability that on a randomly selected day she will have two messages?

• A) 0.0067
• B) 0.0014
• C) 0.420
• D) 0.084
• E) None of the choices are correct

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Definitions:

Utility Function

A mathematical representation that ranks an individual's preferences over a set of goods and services, based on the level of satisfaction or utility derived.

Optimal Utility Rule

A principle in consumer theory stating that consumers allocate their income in a way that maximizes their total utility, given their budget constraint.

Indifference Curve

A graph representing combinations of goods or services among which a consumer is indifferent, showing the same level of utility for each point along the curve.

Utility Level

An assessment of contentment or joy obtained by a customer from using products and services.