Question: The Consumer Financial Protection Bureau s consumer response team hears directly

The Consumer Financial Protection Bureau’s consumer response team hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the attention of financial institutions, and assists in addressing their com-plaints. The consumer response team accepts complaints related to mortgages, bank accounts and services, private student loans, other consumer loans, and credit reporting. An analysis of com-plaints over time indicates that the mean number of credit reporting complaints registered by consumers is 2.70 per day. Assume that the number of credit reporting com-plaints registered by consumers is distributed as a Poisson random variable. What is the probability that on a given day
a. No credit reporting complaints will be registered by consumers?
b. Exactly one credit reporting complaint will be registered by consumers?
c. More than one credit reporting complaint will be registered by consumers?
d. Fewer than two credit reporting complaints will be registered by consumers?

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  • CreatedJuly 16, 2015
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