A market in Boston orders oranges from Florida. The oranges are shipped to Boston from Florida by either railroad, truck, or airplane; an order can take 1, 2, 3, or 4 days to arrive in Boston once it is placed. The following probabilities have been assigned to the number of days it takes to receive an order once it is placed (referred to as lead time): Lead Time Probability 1 .20 2 .50 3 .20 4 .10 1.00 Compute the expected number of days it takes to receive an order and the standard deviation.
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 market in Boston orders oranges from Florida. The oranges are shipped to Boston from
Florida by either railroad, truck, or airplane; an order can take 1, 2, 3, or 4 days to arrive in
Boston once it is placed. The following probabilities have been assigned to the number of days
it takes to receive an order once it is placed (referred to as lead time):
Lead Time
1 .20
2 .50
3 .20
4 .10
1.00
Compute the expected number of days it takes to receive an order and the standard deviation.
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