The mean number of bankruptcies filed per hour by businesses in the United States in a recent

Question:

The mean number of bankruptcies filed per hour by businesses in the United States in a recent year was about five.
(a) Find the variance and the standard deviation. Interpret the results.
(b) Find the probability that at most three businesses will file bankruptcy in any given hour.
Use the fact that the variance of a Poisson distribution is σ2 = μ.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: