The Sutton Police Department Must Write,on Average,6 Tickets a Day

question 61

Multiple Choice

The Sutton police department must write,on average,6 tickets a day to keep department revenues at budgeted levels.Suppose the number of tickets written per day follows a Poisson distribution with a mean of 6.5 tickets per day.Interpret the value of the mean.

• A)The mean has no interpretation.
• B)The expected number of tickets written would be 6.5 per day.
• C)Half of the days have less than 6.5 tickets written and half of the days have more than 6.5 tickets written.
• D)The number of tickets that is written most often is 6.5 tickets per day.

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Definitions:

Financial Control

The management of a company's finances, ensuring that its resources are used efficiently and effectively.

Liquidity

The measure of how quickly and easily an asset can be converted into cash without significantly affecting its value.

Leverage

Describes the use of borrowed capital or debt to increase the potential return of an investment or project.

Asset Management

The process of developing, operating, maintaining, and selling assets in a cost-effective manner, commonly used in finance to refer to managing investments.