The Mathematical Expression for the Poisson Distribution Is Shown as P(x)=

question 46

Multiple Choice

The mathematical expression for the Poisson distribution is shown as P(x) = e⁻λλˣ/x! The term λ stands for ______.

• A)probability of arrivals
• B)number of arrivals per unit of time
• C)expected or average arrival rate
• D)total arrival time

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Definitions:

Cash Sales

Transactions in which customers pay for goods or services at the time of purchase with cash.

Cash Register

A device, either mechanical or electronic, designed to record and compute transactions where sales occur.

Internal Control

Systems and processes implemented by a company to ensure the reliability of financial reporting, compliance with laws and regulations, and efficiency of operations.

Elements

In accounting, elements refer to the basic categories of financial data that are classified in the financial statements, such as assets, liabilities, equity, revenue, and expenses.