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

question 32

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 standard deviation of the number of people served in an hour?

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Definitions:

Short-Sale

A trading strategy that involves selling borrowed securities with the expectation of buying them back at a lower price to profit from a decline in their value.

LIBOR

The London Interbank Offered Rate, previously a benchmark interest rate at which major global banks lend to one another.

Bankers' Acceptances

Short-term debt instruments issued by a company that is guaranteed by a commercial bank, commonly used in international trade.

Brokers' Calls

The interest rate charged by banks on loans extended to brokerage firms for the purpose of funding clients' margin accounts.