A new high precision measurement of the reaction pp -> pK+Lambda at a beam momentum of 2.95 GeV/c with more than 200,000 analyzed events allows a detailed analysis of differential observables and their inter-dependencies. Correlations of the angular distributions with momenta are examined. The invariant mass distributions are compared for different regions in the Dalitz plots. The cusp structure at the N Sigma threshold is described with the Flatte formalism and its variation in the Dalitz plot is analyzed.
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