What is the Poisson random variable?
How do I use Excel to compute probabilities for the Poisson random variable?
Suppose that the number of customers arriving at a bank is governed by a Poisson random variable. What random variable governs the time between arrivals?
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 small time interval. More specifically, during a small time interval λt, either zero or one event will occur, and the probability of one event occurring ...