Steve Smith is a car sales agent at a Ford dealership. He earns a salary and benefits,

Question:

Steve Smith is a car sales agent at a Ford dealership. He earns a salary and benefits, but a large portion of his income comes from commissions: $350 per vehicle sold for the first five vehicles in a month and $400 per vehicle after that. Steve's historical sales can be well described with a Poisson with mean 5.5; that is, on average, Steve sells 5.5 vehicles per month. On average, how much does Steve earn in commissions per month?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...