When Observing a Checkout Line at a Food Store, the Average

question 4

Essay

When observing a checkout line at a food store, the average number of people served is 30 per hour. Using the Poisson distribution, what is the probability that no (zero) people check out in any given hour?

---

Definitions:

Just-in-time

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Restrictive Policy

Measures taken by a government or financial institution to limit borrowing and spending in an attempt to curb inflation or stabilize the economy.

Neutral Policy

A stance or policy adopted by an organization or government that is neither supportive nor against a particular issue, aiming for a balanced approach.

Accounts Payable

Liabilities owed by a business to its creditors for purchases or services rendered that are expected to be paid off within a year.