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Instructions: Show all of your work. Include what probability distribution you selected and show the variables associated with the distribution (known and unknown). Question-The rate
Instructions: Show all of your work. Include what probability distribution you selected and show the variables associated with the distribution (known and unknown).
Question-The rate of demand for a replacement part is a random variable having a Poisson probability distribution with a mean of 4.7. If there are 6 replacement parts in stock, what is the probability of running out of stock (i.e., demand exceeding quantity on hand)?
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