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Poisson Mathematical Properties
1. The expected or mean value = np = λ
Whereas; n = Sample Size
p = Probability of success
2. The variance = np = ?
3. Standard deviation = √(np) = √?
13+13
Certain model of new home distributed with a mean of $150,000. Find percentage of buyers who paid between $150,000-155,000 if standard deviation is $1800.
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