The Consumer Financial Protection Bureau’s Consumer Response Team hears directly from consumers about the challenges they face in the marketplace brings their concerns to the attention of financial institutions, and assists in addressing their complaints. An analysis of complaints registered in March 2017 indicates that the mean number of vehicle lease complaints registered by consumers is 3.5 per day. Assume that the number of vehicle lease complaints registered by consumers is distributed as a Poisson random variable. What is the probability that in a given day (a) no vehicle lease complaint will be registered by consumers? Ans: ___________________ (b) exactly one vehicle lease complaint will be registered by consumers? Ans: ___________________ (c) more than one vehicle lease complaint will be registered by consumers? Ans: ___________________ (d) fewer than two vehicle lease complaints will be registered by consumers? Ans: ___________________ Paste your working here:
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.
The Consumer Financial Protection Bureau’s Consumer Response Team hears directly from
consumers about the challenges they face in the marketplace brings their concerns to the
attention of financial institutions, and assists in addressing their complaints. An analysis of
complaints registered in March 2017 indicates that the mean number of vehicle lease
complaints registered by consumers is 3.5 per day.
Assume that the number of vehicle lease complaints registered by consumers is distributed
as a Poisson random variable. What is the
(a) no vehicle lease complaint will be registered by consumers?
Ans: ___________________
(b) exactly one vehicle lease complaint will be registered by consumers?
Ans: ___________________
(c) more than one vehicle lease complaint will be registered by consumers?
Ans: ___________________
(d) fewer than two vehicle lease complaints will be registered by consumers?
Ans: ___________________
Paste your working here:
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Response team hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the attention of financial institutions, and assists in addressing their complaints. An analysis of complaints registered recently indicates that the mean number of vehicle lease complaints registered by consumers is 3.5 per day. Assume that the number of vehicle lease complaints registered by consumers is distributed as a Poisson random variable. What is the
d. fewer than two vehicle lease complaints will be registered by consumers?
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