THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING

question 16

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING:
Suppose you know that the number of complaints coming into a phone center averages 4.2 every ten minutes.Assume that the number of calls follows the Poisson distribution.
-It has been estimated that 30% of all farms are family-owned.In a sample of 12 farms,what is the probability that exactly three farms are family owned?

• A)0.20
• B)0.30
• C)0.36
• D)0.24

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Definitions:

Business Models

Frameworks that describe how a company creates, delivers, and captures value, in both economic, social, and other contexts.

Experimentation

The process of conducting tests and trials to explore hypotheses or new ideas, typically to gain knowledge or validate theories.

Cost Structure

An outline of the types and relative proportions of fixed and variable costs that a business incurs in its operations.

Outsourced Activities

Business processes or tasks that are contracted out to an external provider, often to reduce costs, access specialized expertise, or improve efficiency.