Based on historical data, your manager believes that 35% of the company's orders come from first-time customers. A random sample of 55 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is less than 0.28? P(ˆp<0.28)=P(p^<0.28)
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.
Based on historical data, your manager believes that 35% of the company's orders come from first-time customers. A random sample of 55 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is less than 0.28?
P(ˆp<0.28)=P(p^<0.28)=
(Enter your answer as a number accurate to 4 decimal places.)
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