A 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 complaints. 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 complaints over time indicates that the mean number of credit reporting complaints registered by consumers is 3.95 per day. Assume that the number of credit reporting complaints registered by consumers is distributed as a Poisson random variable. Complete parts (a) through (d) below. a. What is the probability that on a given day, no credit reporting complaints will be registered by consumers? The probability that no complaints will be registered is nothing. (Round to four decimal places as needed.)
A 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 complaints. 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 complaints over time indicates that the mean number of credit reporting complaints registered by consumers is 3.95 per day. Assume that the number of credit reporting complaints registered by consumers is distributed as a Poisson random variable. Complete parts (a) through (d) below. a. What is the probability that on a given day, no credit reporting complaints will be registered by consumers? The probability that no complaints will be registered is nothing. (Round to four decimal places as needed.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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A 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 complaints. 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 complaints over time indicates that the mean number of credit reporting complaints registered by consumers is
3.95 per day. Assume that the number of credit reporting complaints registered by consumers is distributed as a Poisson random variable. Complete parts (a) through (d) below.
a. What is the probability that on a given day, no credit reporting complaints will be registered by consumers?
The probability that no complaints will be registered is
nothing. (Round to four decimal places as needed.)
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