2-Labor negotiators estimate that 30 percent of all major contract negotiations result in a strike. During the next year, 12 major contracts must be negotiated. Determine the following probabilities using the binomial table. c. between 2 and 4 inclusive (that is 2, 3, or 4). d. Determine the mean and variance of the number of strikes next year.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Determine the following
C.) between 2 and 4 inclusive (that is 2,3, or 4)
D.) Determine the mean and variance of the number of strikes next year.
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