Assume that about 45% of all U.S. adults try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 100 insurance claims to be processed in the next few days. What is the probability that more than 49 of the claims are padded?
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 that about 45% of all U.S. adults try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 100 insurance claims to be processed in the next few days. What is the probability that more than 49 of the claims are padded?
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