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Step-wise answer to Poisson Distribution
Assume that customers enter a store at the rate of 60 persons per hour.
(a) What is the probability that during a 5-minute interval no one will enter the store?
(b) What time interval is such that the probability is 1/2 that no one will enter the store during that interval?
Solve by absolute value equation and Solve by factoring and use the zero product principle.
Describe how to calculate the odds against an event happening when you know the probability of the event occuring. Use a numerical example to illustrate your explanation.
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