A Statistic Professor Finds She Averages Five E-Mail Messages Per

question 116

Multiple Choice

A statistic professor finds she averages five e-mail messages per day from students. Assume the number of messages approximates a Poisson distribution. What is the probability that on a randomly selected day she will have five messages?

• A) 0.0067
• B) 0.875
• C) 0.175
• D) 1.0

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Definitions:

Break-Even Point

The point at which total revenues equal total costs, and the business makes neither profit nor loss.

Fixed Expenses

A repackaged definition of fixed costs emphasizing their nature as constant across different levels of output or sales.

Selling Price

The amount of money charged to the buyer for a product or service.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue, indicating the company's bottom line.