Banner Mattress And Furniture Company Wishes To Study The Number Of Credit Applications … – Instant Assignment Help | assignmentsonline.org

       Banner Mattress and Furniture Company wishes   to study the number of credit   applications                  received   per day for the last 300 days. The information is reported on the next   page.                       Number   of   Credit               Frequency   Applications               (Number   of Days)   0               50    1               77    2               81    3               48    4               31    5   or   more               13         To   interpret, there were 50 days on which no credit applications were received,   77   days                  on   which only one application was received, and so on. Would it be reasonable to   conclude                  that   the population distribution is Poisson with a mean of 2.0? Use the .05   significance                  level.   Hint: To find the expected frequencies use the Poisson distribution with   a                  mean   of 2.0. Find the probability of exactly one success given a Poisson   distribution   with                  a   mean of 2.0. Multiply this probability by 300 to find the expected frequency   for   the                  number   of days in which there was exactly one application. Determine the expected   frequency                  for   the other days in a similar manner.