Assume a salesman normally makes a sale (closes) on 40% of his presentations. Success or failure in one presentation cannot be used to predict success in any other presentation so assume the presentations are independent. The salesman has 4 presentations to make today and the probability distribution below shows the theoretical chance that he will close on 0, 1, 2, 3, and 4 of his presentations. What is the probability the salesman will close 3 or more presentations? x 0 1 2 3 4P(x) .13 .35 .35 ? .03
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.
Assume a salesman normally makes a sale (closes) on 40% of his presentations. Success or failure in one presentation cannot be used to predict success in any other presentation so assume the presentations are independent.
The salesman has 4 presentations to make today and the
What is the probability the salesman will close 3 or more presentations?
x 0 1 2 3 4
P(x) .13 .35 .35 ? .03
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