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Use the Poisson Model to Approximate the Probability

question 196

Multiple Choice

Use the Poisson model to approximate the probability. Round your answer to four decimal places.
-Suppose the probability of contracting a certain disease is p = 0.0006 for a new case in a given year. Use the Poisson distribution to approximate the probability that in a town of 6000 people there will be at least one new
Case of the disease next year.


Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Accounts Receivable Turnover

A financial ratio that measures how effectively a company collects on its credit sales.

Credit Policy

The guidelines a company follows to determine the amount and terms of credit to extend to customers.

Net Sales

The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods, and discounts.

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