Suppose that the mean number of customers who arrive per minute at the bank during the noon-to-1 p.m. hour is equal to 3.0. Find the following: (Poisson) a) What is the probability that in a given minute, exactly two customers will arrive? b) What is the probability that more than two customers will arrive in a given minute? c) What is the probability that exactly 10 customers will arrive in a given 3 minutes?

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.