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Use the Poisson model to approximate the probability. Round your answer to four decimal places.
-The rate of defects among CD players of a certain brand is 1.5%. Use the Poisson approximation to the binomial distribution to find the probability that among 430 such CD players received by a store, there are exactly three
Defective CD players.
Competition Act
Legislation aimed at promoting fair business practices, preventing anti-competitive behavior, and regulating mergers to ensure a competitive market environment.
Misleading Advertising
Promotional material that deceives or misinforms consumers, either intentionally or unintentionally.
Competition Tribunal
A specialized court or body that adjudicates issues related to competition law, ensuring fair competition among businesses.
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