Customers Arrive at a Grocery Store Following a Poisson Distribution

question 33

Multiple Choice

Customers arrive at a grocery store following a Poisson distribution at an average rate of 70 per hour.On average,how many customers arrive per minute?

• A)1.2 customers per minute
• B)7 customers per minute
• C)0.86 customers per minute
• D)0.02 customers per minute
• E)0.7 customers per minute

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Definitions:

Choices

The range of different options or decisions available to an individual or organization.

Rivalry

The competitive relationship between businesses in the same industry, aiming to achieve higher sales, market share, and customer loyalty.

Competition

A scenario where two or more parties strive for a common goal which cannot be shared, such as market share, victory in a sport, or the acquisition of a contract.

Industry

Refers to the production of goods or services within an economy, typically classified into sectors based on their main source of revenue and activity.