​ Post Office

question 143

Short Answer

​ Post office
The number of arrivals at a local post office between 3:00 and 5:00 P.M.has a Poisson distribution with a mean of 12. ​ ​
-{{Post Office Narrative} Find the probability that the number of arrivals between 4:00 and 5:00 P.M.is exactly two.

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Definitions:

Risk Management

The process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the impact of unfortunate events.

Risk Sharing

The practice of distributing potential financial losses among multiple stakeholders or partners.

Project Risk

Potential events or circumstances that could have negative effects on a project's objectives, timelines, or outcomes.

Project Objective

A specific goal or target that a project intends to achieve, which guides the planning and execution phases.