With regard to the use of a Poisson distribution to approximate binomial probabilities, on page 254 we stated that As you might expect, the appropriate Poisson distribution is the one whose mean is the same as that of the binomial distribution Explain why you might expect this result ...

If there is a Poisson distribution that provides a good approximation to the binomial ...

With regard to the use of a Poisson distribution to approximate binomial probabilities, on page 254 we

Question:

With regard to the use of a Poisson to approximate binomial probabilities, on page 254 we stated that "As you might expect, the appropriate Poisson is the one whose mean is the same as that of the binomial . . ." Explain why you might expect this result.
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...