8. The U.S. Department of Agriculture estimates that the yearly yield of limes per acre is distributed as follows: The estimated average price per bushel is $16.80. Use the following random numbers to simulation yield crop for 10 year: 0.37, 0.23, 0.92, 0.01, 0.69, 0.50, 0.72, 0.12, 0.46, 0.81. What is the expected average revenue?
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.
8. The U.S. Department of Agriculture estimates that the yearly yield of limes per acre is distributed as follows:
The estimated average price per bushel is $16.80.
Use the following random numbers to simulation yield crop for 10 year: 0.37, 0.23, 0.92, 0.01, 0.69, 0.50, 0.72, 0.12, 0.46, 0.81. What is the expected average revenue?
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