Exhibit 5-15

question 28

Multiple Choice

Exhibit 5-15.A bank manager estimates that an average of two customers enter the tellers' queue every five minutes.Assume that the number of customers that enter the tellers' queue is Poisson-distributed. Refer to Exhibit 5-15.What is the probability that exactly three customers enter the queue in a randomly selected five-minute period?

• A)0.0902
• B)0.1804
• C)0.2240
• D)0.2707

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Definitions:

Annual Interest

The amount of interest earned or paid over one year, expressed as a percentage of the principal.

Retirement Fund

A financial arrangement designed to replace employment income upon retirement, commonly managed through savings or investment plans.

Retirement Goal

A financial target or savings plan aimed at ensuring financial security for an individual upon retirement.

Compounded Annually

This refers to the process where interest is calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.