A study of 236 advertising firms revealed their income after taxes: Income after Taxes Number of Firms Under $1 million 120 $1 million to $20 million 60 $20 million or more 56 Click here for the Excel Data File a. What is the probability an advertising firm selected at random has under $1 million in income after taxes? (Round your answer to 2 decimal places.) b-1. What is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? (Round your answer to 2 decimal places.)
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 study of 236 advertising firms revealed their income after taxes:
| Income after Taxes | Number of Firms | ||
| Under $1 million | 120 | ||
| $1 million to $20 million | 60 | ||
| $20 million or more | 56 | ||
Click here for the Excel Data File
a. What is the
b-1. What is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? (Round your answer to 2 decimal places.)
b-2. What rule of probability was applied?
multiple choice
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Rule of complements only
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Special rule of addition only
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Either
a.
A study of advertising firms are given.
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