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Definition
In the binomial process, there are n discrete opportunities for an event (a 'success') to occur. In the Poisson process, there is a continuous and constant opportunity for an event to occur. For example, lightning strikes might be considered to occur as a Poisson process during a storm. That would mean that in any small time interval during the storm, there is a certain probability that a lightning strike will occur. In the case of lightning strikes, the continuum of opportunity is time. However, there are other types of exposure. The occurrence of discontinuities in the continuous manufacture of wire could be considered to be a Poisson process where the measure of exposure is, for example, kilometers or tones of wire produced.
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