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Let's say we decide to use a simulation model for a day's operations at a bank....

Let's say we decide to use a simulation model for a day's operations at a bank. We decide to model the arrival of the customers according to a Poisson process, so use an exponential distribution to model the inter-arrival times. Using the three requirements for a Poisson process, discuss the potential problems associated with this model.
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Answer #1

Poisson process assumptions are:

1. Independence: the events must occur independently of each other.

This is a potential problem as arrival of custonecu need not be independent. Suppose customer A comes to bank on day1, there is a chance his work isn't fully done and he needs to come back on day2 as well.

2. Constant rate of arrival of customers.

The number of customers who arrive at the bank per minute will likely not follow a Poisson distribution, because the rate is not constant.

3. The probability of more than 1 event in a small time interval is 0

There may be the arrival and departure of different customers in the same time gap.

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