The University Police Department Keeps Track of the Number of Tickets

question 42

Multiple Choice

The university police department keeps track of the number of tickets it write in a year. Last year the campuspolice wrote 1460 tickets. Ticket writing on campus follows a Poisson process. What is the mean number oftickets written per day by the campus police?

• A) 4
• B) 2
• C) 6.08
• D) 5

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Definitions:

Herfindahl Index

An index calculating market concentration by summing the squares of the market shares of each firm within the industry.

Conglomerate Merger

A type of merger where two or more firms in unrelated business sectors combine to reduce risk or expand their portfolio.

Monopolizing Market

The practice of a single company or entity dominating a particular market, thereby limiting or eliminating competition.

Behavioralist Approach

A method in economics and finance that studies how psychological influences and behavioral biases affect the decisions of individuals and markets.