Question

General Instructions: Answer all the questions related to the exercises below. You can use Excel or work the exercise manually, as you prefer. You must detail all the steps. That is, even with the support of the schedule, the process should be reflected in the worksheet.

A regional director responsible for business development in a given area is concerned about the number of small business failures. If 10 small businesses fail on average per month, what is the probability that exactly four small businesses will fail in a given month? (Fish)

Answer 1

Given Data

Average number of small business failures per month = 10

probability that exactly four small businesses will fail in a given month

Let x be the number of small business failures

X be a poisson Distribution