Electra Radioti

Exercise The number of customers served by a bank’s central counter is 2 customers per minute. What is the probability that the counter will: 1. Serve 5 customers in a …

How Do Online Platforms Like Facebook, Instagram, and Others Make Money? An In-Depth Look at Monetizing User Engagement In the digital age, platforms like Facebook, Instagram, and others have become …

Exercise The human resources department of a company with 5,000 employees wants to estimate the average gross monthly salary of their employees. A sample of 400 employees was randomly selected, …

Introduction The Poisson Point Process (PPP) is a fundamental concept in probability theory and stochastic processes, widely used in fields like telecommunications, physics, and ecology. It provides a mathematical framework …

Introduction The Poisson distribution is a fundamental discrete probability distribution used to model the number of events that occur within a fixed interval of time or space. This distribution is …

The internet has revolutionized the way we work, invest, and manage our finances. For those with a finance background or interest, there are numerous opportunities to make money online that …

Exercise Suppose a large batch of light bulbs contains 10% defective bulbs. If we randomly select 3 bulbs, what is the probability of the following: 1. Exactly one bulb is …

Introduction The Hypergeometric distribution is a discrete probability distribution that arises in scenarios where sampling is done without replacement. This distribution is particularly relevant when dealing with small populations or …

Learning a new language is a valuable skill, particularly when relocating to a foreign country for business purposes. As an expat, mastering the local language can significantly enhance your professional …

Exercise A department store sells an average of 3 items per hour. Answer the following questions: 1. What is the probability of exactly 3 sales in the next hour? 2. …