What Is the Probability That 3 or More Phone Calls

question 9

Essay

What is the probability that 3 or more phone calls are received in any hour of operation?
$\begin{array}{lllll}&\text {A}&\text {B}&\text {C}&\text {D}\\&\text {\# of phone calls } & \text { P\# of phone calls)}&\text { \# of phone calls}&\text { P\# of phone calls) }\\1\\\hline2 & 1 & 0.10 & 1 & 0.10 \\3 & 2 & 0.40 & 2 & 0.50 \\4 & 3 & 0.30 & 3 & 0.80 \\5 & 4 & 0.15 & 4 & 0.95 \\6 & 5 & 0.05 & 5 & 1.00\end{array}$

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Definitions:

Total Liabilities

The combined amount of obligations and debts a company owes to outside parties that must be repaid.

Total Assets

The sum of all resources owned by a company, valued at cost or market value on the balance sheet, representing the company's total owned resources.

IASB

International Accounting Standards Board, an independent organization that develops and approves International Financial Reporting Standards (IFRS).

Financial Accounting Standards

Rules and standards set by authoritative bodies that dictate how companies prepare and present their financial statements.