The Number of Customers Who Enter a Bank Is Thought

question 29

Multiple Choice

The number of customers who enter a bank is thought to be Poisson distributed with a mean equal to 10 per hour. What are the chances that 2 or 3 customers will arrive in a 15-minute period?

• A) 0.0099
• B) 0.4703
• C) 0.0427
• D) 0.0053

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Definitions:

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.

Capacity Alternatives

Different strategies or options available to an organization to adjust or increase its production or service capacity to meet variations in demand.

Market Acceptance

The degree to which a new product or service is accepted and purchased by customers in the market.

Variable Cost

Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor costs.