Which of the Following Distributions Can Be Used to Solve

question 47

Multiple Choice

Which of the following distributions can be used to solve the following problem? The average number of cars arriving at a drive-through fast-food restaurant is three in 10 minutes.What is the probability that exactly four cars will arrive in a 5-minute interval?

• A) binomial
• B) Poisson
• C) both binomial and Poisson
• D) neither binomial nor Poisson

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts in preparation for the new accounting period.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired, representing the wear and tear over time.

Service Revenue

Income earned by a company for the services it provides to its clients.

Adjusting Entries

Journal entries made at the end of an accounting period to update certain accounts and report revenues and expenses in the appropriate period.