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Microsoft® Excel® 2010: Data Analysis and Business Modeling by Wayne L. Winston

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Chapter 64. The Poisson and Exponential Random Variable

Questions answered in this chapter:

  • What is the Poisson random variable?

  • How do I compute probabilities for the Poisson random variable?

  • If the number of customers arriving at a bank is governed by a Poisson random variable, what random variable governs the time between arrivals?

Answers to This Chapter’s Questions

What is the Poisson random variable?

The Poisson random variable is a discrete random variable that is useful for describing probabilities for situations in which events (such as customer arrivals at a bank or orders placed for a product) have a small probability of occurring during a short time interval. More specifically, during a short time interval, denoted as t, either zero or one ...

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