Find poisson approximations to the probabilities
Find Poisson approximations to the probabilities of the following events in 500 indepen- dent trials with probability 0.02 of success in every trial: 1) 1 success; 2) 2 or fewer successes; 3) strictly more than 3 successes.
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Find Poisson approximations to the probabilities of the following events in 500 independent trials with probability 0.02 of success in every trial 1 success.
Maddox Specialty Company, a division of Lost World Inc., manufactures three models of gear shift components for bicycles that are sold to bicycle manufacturers.
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You are about to purchase your first home for personal use. The price of the house is $400K. The property taxes and casualty insurance are estimated at $200 and $100 per month respectively.
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