The Number of Telephone Calls Coming into a Business' Switchboard

question 68

Short Answer

The number of telephone calls coming into a business' switchboard averages 4 calls per minute. Let x be the number of calls received.
Find P(x = 0).
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What is the probability there will be at least one call in a given one-minute period?
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What is the probability at least one call will be received in a given two-minute period?
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Definitions:

Inventory Loans

are secured short-term loans or lines of credit given against the inventory of a business, used to purchase additional inventory or manage cash flow.

Advantages

Advantages are beneficial aspects or competitive edges that a business or entity has over others in its field or market.

Disadvantages

The unfavorable conditions or attributes that lead to a decrease in effectiveness, efficiency, or benefit.

Trust Receipt

A notice provided by the bank to a buyer who has taken out a short-term loan to purchase goods, with the bank holding the title to those goods until the loan is repaid.