Question

What discrete probability distribution would be appropriate for modeling the probability of a number of independent events occurring in a fixed time? What is the parameter for this distribution, and which Excel function should be used to calculate probabilities?

Answer 1

The appropriate discrete probability distribution for modeling the probability of a number of independent events occurring in a fixed time is the Poisson distribution. The parameter for this distribution is the average rate of events occurring in the fixed time interval. The Excel function used to calculate probabilities for the Poisson distribution is POISSON.DIST.

Step-by-step explanation:

The appropriate discrete probability distribution for modeling the probability of a number of independent events occurring in a fixed time is the Poisson distribution. The parameter for this distribution is the average rate of events occurring in the fixed time interval. The Excel function used to calculate probabilities for the Poisson distribution is POISSON.DIST.