A car dealership has lowered its prices on last year’s models in order to clear its holdover inventory. With prices slashed, a young and aggressive salesman estimates the probability distribution of X, the total number of cars he’ll sell in the next week (see Table 5.11). Table 5.11: Data set X 0 1 2 3 4 p(x) 0.05 0.15 0.35 0.25 0.20 Let X be the total number of cars sold in the next week Calculate a) The average number of cars that the salesman sold during the week (rounded off to one decimals). b) The variance rounded off to two decimals). c) The standard deviation that the salesman sold during the week (rounded off to four decimals
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.
2. A car dealership has lowered its prices on last year’s models in order to clear its holdover inventory.
With prices slashed, a young and aggressive salesman estimates the probability distribution of X, the total
number of cars he’ll sell in the next week (see Table 5.11).
Table 5.11: Data set
| X | 0 | 1 | 2 | 3 | 4 |
| p(x) | 0.05 | 0.15 | 0.35 | 0.25 | 0.20 |
Let X be the total number of cars sold in the next week
Calculate
a) The average number of cars that the salesman sold during the week (rounded off to one decimals).
b) The variance rounded off to two decimals).
c) The standard deviation that the salesman sold during the week (rounded off to four decimals
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