Find the interest on $4000 at 3% for 4 months
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Answer:
The Poisson distribution uses the shape parameter denoted by <em>λ</em>.
Step-by-step explanation:
A Poisson distribution is used to describe the distribution of the number of events that take place in a fixed interval of time.
For instance, number of customers arriving at a bank in an hour or the number of typos encountered in a book every 50 pages.
The Poisson distribution uses the shape parameter to compute the probabilities of different events.
The shape parameter is defined as the average number of occurrence in a given time interval. It is usually denoted by <em>λ</em>.
The probability mass function of a Poisson distribution is:
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