Microsoft Excel 2013: Data Analysis and Business Modeling

Chapter 68. The Poisson and exponential random variable

Questions answered in this chapter:

• What is the Poisson random variable?

• How can I compute probabilities for the Poisson random variable?

• If the number of customers arriving at a bank is governed by a Poisson random variable, what random variable governs the time between arrivals?

Answers to this chapter’s questions

This section provides the answers to the questions that are listed at the beginning of the chapter.

What is the Poisson random variable?

The Poisson random variable is a discrete random variable that is useful for describing probabilities for situations in which events (such as customer arrivals at a bank or orders placed for a product) have a small probability of occurring during a ...