The University Police Department Must Write, on Average, Five Tickets

question 182

Multiple Choice

The university police department must write, on average, five tickets per day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of 8.9. Find the probability that exactly four tickets are written on a randomly selected day.

• A) .035656
• B) .941567
• C) .058433
• D) .964344

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Definitions:

Marginal Cost Curve

A graph showing the change in the cost of producing one more unit of a good as production levels change.

Short-Run Supply Curve

A graphical representation showing the quantity of goods a firm is willing to supply at different price levels in the short term, holding some inputs fixed.

Shutdown Point

The level of operation at which a firm's total revenue is equal to its total variable costs, below which the firm should cease production to minimize losses.

Point

A specific location or position in a spatial setting or within a set of data.