A construction company is currently bidding a job overseas in country X. The chance of winning the job depends on the current election results in country X. If party A wins the election, the chance of the company winning the job is 60%; otherwise ,there is only a 20% chance that the company will win the job. On the other hand, from poll data, the probability that party A will win the election is 0.85. compute the probability of the company's success in winning the job.
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 construction company is currently bidding a job overseas in country X. The chance of winning the job depends on the current election results in country X. If party A wins the election, the chance of the company winning the job is 60%; otherwise ,there is only a 20% chance that the company will win the job. On the other hand, from poll data, the
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