Determine the Required Probability by Using the Poisson Approximation to the Binomial

question 161

Multiple Choice

Determine the required probability by using the Poisson approximation to the binomial distribution. Round to threedecimal places.
-The probability that a call received by a certain switchboard will be a wrong number is 0.01. Use the Poisson approximation to the binomial distribution to find the probability that among 120 calls
Received by the switchboard, there are at least two wrong numbers.

• A)0.337
• B)0.217
• C)0.121
• D)0.663

Describe the physiological mechanisms of hormone action.

Identify the impact of drugs on endocrine function.

Recognize the key indicators for diagnosing endocrine disorders.

Understand the concept of cost of goods available for sale and its allocation.

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Definitions:

Price Leadership

A market strategy where one leading company sets the price of goods or services within a sector, and other companies in the industry follow suit.

Airfare

The cost or price of a journey by airplane.

Price Leadership

A situation where one company (the price leader) sets the price of goods or services in the market, and other companies follow suit, often seen in oligopolistic markets.

Nash Equilibrium

An idea in strategic game theory in which none of the participants can gain by altering their approach if all other players maintain their current strategies.