An assortment of coins contains 14 pennies, 16 nickels, 9 dimes, and 11 quarters. To three significant figures, calculate the percentage of coins that have a face value of $0.05 or less
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 assortment of coins contains 14 pennies, 16 nickels, 9 dimes, and 11 quarters. To three significant figures, calculate the percentage of coins that have a face value of $0.05 or less.
1 penny = $0.01
1 nickel = $0.05
1 dime = $0.1
1 quarter = $0.25
Number of coins that have face value of $0.05 or less = 14+16=30
Total number of coins = 14+16+9+11=50
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