Let X Be a Poisson Random Variable with  $P ( X \leq 6 )$

question 43

Short Answer

Let X be a Poisson random variable with  = 8. Use the table of Poisson probabilities to find:
a. $P ( X \leq 6 )$
b. $P ( X = 4 )$
c. $P ( X \geq 3 )$ .
d. $P ( 9 \leq X \leq 14 )$ .

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Definitions:

Amortized Loan

A loan repaid in equal periodic amounts (or “killed off” over time).

Repayment Of Principal

The process of paying back the original amount borrowed in a loan, excluding any interest charges.

Effective Annual Return

The interest rate on an investment on an annual basis, accounting for the effect of compounding more than once per year.

Nominal Interest

The rate of interest before adjustments for inflation; the stated interest rate on a financial product.