Exhibit 5-8 the Random Variable X Is the Number of Occurrences of Occurrences

question 10

Multiple Choice

Exhibit 5-8
The random variable x is the number of occurrences of an event over an interval of ten minutes. It can be assumed that the probability of an occurrence is the same in any two-time periods of an equal length. It is known that the mean number of occurrences in ten minutes is 5.3.
-Refer to Exhibit 5-8. The random variable x satisfies which of the following Discrete Probability Distributions?

• A)normal
• B)Poisson
• C)binomial
• D)Not enough information is given to answer this question.

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Definitions:

Statement of Retained Earnings

A financial statement that outlines the changes in a company's retained earnings over a specific period.

Expense Recognition

The accounting principle that expenses should be recognized in the period in which they contribute to revenue, following the matching principle.

Amortization

The gradual reduction of a debt over a period of time through regular payments of principal and interest.

Sales Commissions

Fees paid to salespersons for generating sales, typically calculated as a percentage of the sale amount.