The Number of Customers Arriving at a Department Store in a 5-Minute

question 21

True/False

The number of customers arriving at a department store in a 5-minute period has a binomial distribution.

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Definitions:

Profit

The financial gain achieved when the revenues obtained from business activities exceed the expenses, costs, and taxes associated with maintaining the activity.

Commodity

A primary item used in trading that is replaceable with other items of the same type.

Maximise

To increase to the greatest possible amount or degree.

Input

Resources or factors used in the production process to generate output, such as labor, capital, and materials.