A certain type of new business succeeds 30 % of the time. Suppose that three such businesses open. b) What is the probability that no business succeeds? c) What is the probability that exactly one business succeeds? d) Compute the mean and standard deviation for this problem
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 certain type of new business succeeds 30 % of the time. Suppose that three such businesses open.
b) What is the
c) What is the probability that exactly one business succeeds?
d) Compute the mean and standard deviation for this problem.
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