# A normal probability distribution can have any value of the mean or

must have a standard deviation of 1 and a mean of 0

I’m confused on which one

# Assume that a random variable has a Poisson distribution with a mean

of 5 occurrences per ten minutes. The number of occurrences per hour follows a Poisson distribution with λ equal to ..
Is the answer 5 or 30?

# On Monday mornings, customers arrive at the coffee shop drive thru

at the rate of 6 cars per fifteen-minute interval. Using the Poisson distribution, the probability that five cars will arrive during the next fifteen-minute interval is…

I got 0.1606. Is that correct?

# The department in which you work in your company has 24 employees.

A team of 3 employees must be selected to represent the department at a companywide meeting in the headquarters of the company. How many different teams of 3 can be selected?

# The department in which you work in your company has 24 employees:

10 women and 14 men. A team of 4 employees must be selected to represent the department at a companywide meeting in the headquarters of the company. The team must have two women and two men. How many different teams of 4 can be selected?

## What is the benefit of formal, rule-based, impersonal exchange with third-party enforcement (often termed arm’s-length transaction) versus informal institutions? Why can’t we assume that formal institutions are inherently better than informal ones? How do formal and informal institutions complement each other?

What is the benefit of formal, rule-based, impersonal exchange with third-party enforcement (often termed arm’s-length transaction) versus informal institutions? Why can’t we assume that formal institutions are inherently better than informal ones? How do formal and informal institutions complement each other?

# Suppose you have formed a company that is pursuing a product

or service that is the current hot fad among investors and it appears that you could quickly enhance your personal wealth as well as quickly provide funds for your company through an IPO. It seems like an awesome opportunity. However, why might you wish to turn it down?

# More than goods and services are moving across borders: as technology

enables ideas and lifestyles to be observed by a variety of people around, cultures are undergoing modification, Hofstede’s dimensions of culture were based on surveys of IBM employees from 1968-1972. Much has changed in the past forty years.