An accounting firm has 80 accountants. Of these, 40 deal with tax accounting, 25 deal with cost accounting and 10 deal with both. If one of the accountants is selected at random, what is the probability that the person deals with cost accounting given that the person deals with tax accounting?
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.
An accounting firm has 80 accountants. Of these, 40 deal with tax accounting, 25 deal with cost accounting and 10 deal
with both. If one of the accountants is selected at random, what is the probability that the person deals with cost accounting
given that the person deals with tax accounting?
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