A- A company is planning to introduce two new products: A and B. It is estimated that the price of product A and B are 300 and 500 S, respectively. It also estimated that the cost of product A is 180$ per unit, and the cost of product b IS 200$ per unit, plus additional cost of 500000 S. In competitive market the number of sales will affect the sales price. It is estimated that for each product, the sales price drops by one cent for each additional unit a sold. Furthermore, sales of the product will affect sales of product B and vice versa. It is estimated that the price for the product A will reduced by an additional 0.1 cents for each product B sold and the price for product B will decrease for by 0.3 cent for each of product A sold. Formulate the given problem to maximize the profit of the сompany?

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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.