Consider a Poisson Distribution with an Average of 3 Customers

question 14

Multiple Choice

Consider a Poisson distribution with an average of 3 customers per minute at the local grocery store. Determine the expected number of customer arrivals for a five-minute period.

• A) 15
• B) 3
• C) 243
• D) 125

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Definitions:

Expected Returns

The anticipated profit or loss from an investment, considering all potential outcomes and their probabilities.

Delivery Van

A Delivery Van is a type of vehicle used for transporting goods and products from one location to another, especially in the context of logistical operations or delivery services.

Interest Rate

The percentage of a sum of money charged for its use over a specified period, typically expressed as an annual percentage rate (APR).

Expected Rate

The predicted average rate of return or growth over a specific period of time.