About 5% of hourly paid workers in a region earn the prevailing minimum wage or less. A grocery chain offers discount rates to companies that have at least 30 employees who earn the prevailing minimum wage or less. Complete parts (a) through (c) below. (a) Company A has 285 employees. What is the probability that Company A will get the discount? (Round to four decimal places as needed.) (b) Company B has 503 employees. What is the probability that Company B will get the discount? (Round to four decimal places as needed.) (c) Company C has 1002 employees. What is the probability that Company C will get the discount? (Round to four decimal places as needed.)
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.
Here (n) is large in the count so that we will use a normal approximation.
Let X be the random variable of workers.
1] n=285
2] p=0.05
Let Calculate E(X) and V(X) as follows,
Let's use the continuity corrections as follows,
The probability that Company B will get the discount is 0.
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