A recent survey reported in Bloomberg Businessweek dealt with the salaries of CEOS at large corporations and whether company shareholders made money or lost money. CEO Paid More CEO Paid Less Than Than $1 Million $1 Million Total Shareholders made money Shareholders lost money 3 13 16 7 13 Total 9 20 29 picture Click here for the Excel Data File If a company is randomly selected from the list of 29 studied, what is the probability: a. The CEO made more than $1 million? (Round your answer to 4 decimal places.) Probability

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Q: Define PROBABILITY THEORY

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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.