Suppose you invest $2000 at a rate of 3.25% continuously, determine the worth of the investment after 10 years.
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Answer:The mean number of checks written per day = 0.3370
The standard deviation = 0.5805
The variance = 0.3370
Step-by-step explanation:
Let the random variable x represent the number of checks he wrote in one day.
Given : The number of checks written in last year = 123
Let the number of days in the year must be 365.
Now, the mean number of checks written per day will be :-
We know that in Poisson distribution , the variance is equals to the mean value .
Thus, Standard deviation = 0.5805