Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that
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Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant A financial consultant has an average of 7 customers he consults with each day, which are assumed to be Poisson distributed. The consultant’s overhead re-quires that he consult with at least 5 customers in order that fees cover expenses. Find the probabilities of 0– 10 customers in a given day. What is the probability that at least 5 customers will schedule his services? Will have on a daily basis. What percentage will meet his target of at least 5?
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Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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