A marketing research survey shows that approximately 80% of car owners indicated that their next car purchase would be an economy car. If 5 prospective buyers are interviewed, determine the probability that all 5 indicated that their next car would be an economy car. a. 0.072595 b. 0.32768 c. 0.052455 d. none of the provided
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 marketing research survey shows that approximately 80% of car owners indicated that their next car purchase would be an economy car. If 5 prospective buyers are interviewed, determine the probability that all 5 indicated that their next car would be an economy car.
0.072595
0.32768
0.052455
none of the provided
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