Customers Arrive According to a Poisson Distribution

question 6

Multiple Choice

Customers arrive according to a Poisson distribution. The average number of customer arrivals per hour is six. The probability that four customers will arrive in the next three hours is:

• A) less than or equal to 0.01.
• B) greater than 0.01 but less than or equal to 0.02.
• C) greater than 0.02 but less than or equal to 0.03.
• D) greater than 0.03.

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Definitions:

Gold Coins

A type of currency made from gold, used historically as a medium of exchange and a store of value.

Small Denomination Time Deposits

Savings accounts or certificates of deposit in banks that have smaller balances and are subject to a specified time frame before withdrawal.

Large Denomination Time Deposits

High-value deposits in a bank with fixed terms, which typically offer higher interest rates than regular savings accounts.

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near-money instruments, such as savings deposits and money market securities.