911 Phone Calls

question 178

Short Answer

911 Phone Calls
911 phone calls arrive at the rate of 30 per hour at the local call center. ​ ​
-{911 Phone Calls Narrative} Find the probability of receiving exactly eight calls in 15 minutes.

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Definitions:

Circular-Flow Model

A diagram that visualizes the economy as consisting of households and firms interacting in the goods and services markets, and labor markets, showing how money flows through the economy.

Resource Market

A market in which households sell and firms buy resources or the services of resources.

Product Market

A market in which products are sold by firms and bought by households.

Tax Revenue

The income that is gained by governments through taxation.