Define "Business

question 27

Short Answer

Define "business".

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Definitions:

Probability Density Function

A mathematical function that indicates how likely it is for a random variable to adopt a particular value.

Exponential Distribution

A probability distribution used to model the time between events in a Poisson process, where events occur continuously and independently at a constant average rate.

Parameter

A numerical characteristic that summarizes or describes an aspect of a population in statistics.

Exponentially Distributed

A probability distribution that characterizes the interval between occurrences in a process where events continually and independently happen at a steady average pace.