A financial consultant has an average of seven customers he consults with each day; assume a Poisson
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A financial consultant has an average of seven customers he consults with each day; assume a Poisson distribution. The consultant’s overhead requires that he consult with at least five customers per day for his fees to cover his expenses. Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant will have on a daily basis. What percentage of these will meet his target of at least five?
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Customer Sampling Using Random Number Generation Tool 8 Min 1 7 Max 13 6 8 7 9 8 ...View the full answer
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