A car dealership is deciding the proportion of cars they will order with cloth seats. You have been assigned the task of surveying randomly selected car owners to determine the percentage of car owners that prefer cloth seats. How many car owners must you survey to be 99% confident that the sample is within 5 percentage points of the true population percentage? Assume that records from the past indicate that 30% of car owners prefer cloth seats.
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.
A car dealership is deciding the proportion of cars they will order with cloth seats. You have been assigned the task of surveying randomly selected car owners to determine the percentage of car owners that prefer cloth seats.
How many car owners must you survey to be 99% confident that the sample is within 5 percentage points of the true population percentage? Assume that records from the past indicate that 30% of car owners prefer cloth seats.
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