The Number of Customers Who Enter a Bank Is Thought

question 146

Multiple Choice

The number of customers who enter a bank is thought to be Poisson distributed with a mean equal to 10 per hour. What are the chances that no customers will arrive in a 15-minute period?

• A) Approximately zero
• B) 0.0067
• C) 0.0821
• D) 0.0250

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Definitions:

Consideration

In contract law, consideration refers to something of value exchanged between parties, which is necessary for a contract to be legally binding.

Legal Detriment

A loss or disadvantage that occurs as a result of a contract or agreement, serving as consideration for a promise in contract law.

Firm Offer

In contract law, a proposal made by a seller to supply goods or services at a fixed price, which cannot be withdrawn for a certain period.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.