A store manager wants to determine if there is a relationship between the day of sale and the price of the item. The following data was obtained for the price of an item on particular days of the week. What is the expected value for a low priced item on Thursdays? ITT Low Medium High Mon 18 14 Tues 14 13 6 Wed 18 19 5 Thurs 27 23 11 Fri 34 27 12

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Q: Consider the following data rep 1365, 1240, 1371, 1052, 123 Class 1027-1096 1097-1166 1167-1236…

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A: Weekday f0 fE χ2=f0-fE2fE Monday 29 28 0.036 Tuesday 18 28 3.571 Wednesday 34 28 1.286…

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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.