lambda= B C D E F G \( P[X<3]= \) \( =P[X<=2]= \) \( \square \) \( 0.173578= \) POISSON.DIST(2,B1,TRUE) Example Arrivals at a busstop follow a Poisson distribution with an average of 4.5 every quarter of an hour. Calculate the probability of fewer than 3 arrivals in a quarter of an hour.
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Bonus Knowledge
To find the probability of fewer than 3 arrivals at the bus stop, you would use the Poisson formula: \( P(X=k) = \frac{\lambda^k e^{-\lambda}}{k!} \), where \( \lambda \) is the average rate (in this case, 4.5) and \( k \) is the number of occurrences (0, 1, or 2 for fewer than 3). You would sum these probabilities to find \( P(X<3) \). In practical terms, this type of calculation is super useful for businesses! For instance, if you're managing a retail shop and want to forecast foot traffic, knowing how many customers to expect in a given time frame helps in staff allocation and stock management. Using software tools or statistical functions like POISSON.DIST can streamline this process and make predictions more accurate.
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