(Answered) The number of phone calls that arrive at a phone exchange

Economics

The number of phone calls that arrive at a phone exchange is often modeled as a Poisson random variable. Assume that on average there are 7 calls per hour.

Show all work.

a) Find the probability that there are exactly five calls in one hour.

b) Find the probability that the number of phone calls that arrive in one hour is within one standard deviation from its mean.

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Business Economics, Economics

Category:- Business Economics
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