A company is preparing to launch a new web site to sell its products. From past experience, they know that purchases at the site will occur as a Poisson process with on average 20 purchases every 10 minutes. What is the probability that the eighth purchase will occur between 3.5 minutes and 4.5 minutes after the site opens? Give your answer to four decimal places.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A company is preparing to launch a new web site to sell its products. From past experience, they know that purchases at the site will occur as a Poisson process with on average 20 purchases every 10 minutes.
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