Assume you have a balance of $1,900 on a credit card.
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Answer:
Step-by-step explanation:
Answer:
0.0498 = 4.98%
Step-by-step explanation:
In a Poisson distribution, the probability that X represents the number of successes of a random variable is given by the following formula:
In which
x is the number of sucesses
e = 2.71828 is the Euler number
is the mean in the given time interval.
Inquiries arrive at a record message device according to a Poisson process of rate 15 inquiries per minute.
Each minute has 60 seconds.
So a rate of 1 inquire each 4 seconds.
The probability that it takes more than 12 seconds for the first inquiry to arrive is approximately
Mean of 1 inquire each 4 seconds, so for 12 seconds
This probability is P(X = 0).