The Probability That a Call Received by a Certain Switchboard

question 69

Multiple Choice

The probability that a call received by a certain switchboard will be a wrong number is 0.02. Use the Poisson distribution to approximate the probability that among 150 calls received by the switchboard, there are at least
Two wrong numbers. Round your answer to four decimal places.

• A) 0.1991
• B) 0.8009
• C) 0.7760
• D) 0.2240
• E) 0.5768

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Definitions:

Severe Recession

An extended period of significant decline in economic activity across the economy, lasting more than a few months, characterized by high unemployment, low consumer spending, and decreased industrial production.

Depression

An extended period of significant decline in economic activity across a country or the global economy, marked by high unemployment rates, low consumer spending, and decreased industrial output.

Unemployment Rate

The portion of the workforce currently unemployed but actively searching for work opportunities.

Opportunity Cost

The foregone benefit of the next best alternative when a decision is made to choose one option over another.