Suppose That the Number of Patients Admitted into a Hospital

question 62

Short Answer

Suppose that the number of patients admitted into a hospital emergency room during a certain hour of the day has a Poisson distribution with mean 3.Find the probability that during that hour there will be exactly two emergency patients.Assume that
= 0.05.

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Definitions:

Private Goods

Products and services that are excludable and rivalrous, meaning only paying customers can consume them, and one person's consumption prevents another's.

Government Failures

occur when government action results in outcomes that fail to achieve desired welfare improvements or when the intervention leads to an inefficient allocation of resources.

Economic Efficiency

A situation in which all resources are allocated optimally to serve each individual or entity in the best way while minimizing waste and inefficiency.

Public Sector

Part of the economy composed of both public services and public enterprises, owned and operated by the government.