A forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $10 each, 30% stay between 0 and 5 ft, and 20% grow to be more than 5ft. Each year, 50% of all trees taller than 5ft are sold for $40, 20% are sold for $20, and 30% remain in the forest (continue growing). If a tree (less than 5 ft) is planted, what is the expected revenue earned from that tree ? Select one: a. $11.22 b. $19.80 c. $14.16 d. $17.44 e. $16.34 f. $15.51
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 forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $10 each, 30% stay between 0 and 5 ft, and 20% grow to be more than 5ft. Each year, 50% of all trees taller than 5ft are sold for $40, 20% are sold for $20, and 30% remain in the forest (continue growing). If a tree (less than 5 ft) is planted, what is the expected revenue earned from that tree ?
Select one:
a. $11.22
b. $19.80
c. $14.16
d. $17.44
e. $16.34
f. $15.51
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