The Poisson distribution is often appropriate in the binomial situation of n independent and identical trials, where

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The Poisson distribution is often appropriate in the "binomial" situation of n independent and identical trials, where each trial has probability p of success, but n is very large and p is very small. In this case, the Poisson distribution is relevant for the number of successes, and its parameter (its mean) is np. Discuss some situations where such a Poisson model might be appropriate. How would you measure n and p, or would you measure only their product np? Here is one to get you started: the number of traffic accidents at a particular intersection in a given year.
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...
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Business Analytics Data Analysis and Decision Making

ISBN: 978-1305947542

6th edition

Authors: S. Christian Albright, Wayne L. Winston

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