Businesses that offer credit to their customers are inevitably faced with the task of collecting unpaid bills. Creditors in 4 different cities are randomly selected and asked about how they deal with past-due bills. Their responses are given below. City A City B City C City D Take tough action early 4 3 2 5 Take tough action late 34 22 21 19 Never take tough action 5 12 10 14 Suppose one of the creditors questioned is chosen at random. (a) If the chosen creditor takes tough action early, what is the probability that the creditor is from City B?What is the probability that the chosen creditor never takes tough action? Given that the chosen creditor is from City D, what is the probability that the creditor takes tough action late?
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.
Businesses that offer credit to their customers are inevitably faced with the task of
collecting unpaid bills. Creditors in 4 different cities are randomly selected and asked
about how they deal with past-due bills. Their responses are given below.
City A City B City C City D
Take tough action early 4 3 2 5
Take tough action late 34 22 21 19
Never take tough action 5 12 10 14
Suppose one of the creditors questioned is chosen at random.
(a) If the chosen creditor takes tough action early, what is the
creditor is from City B?What is the probability that the chosen creditor never takes tough action?
Given that the chosen creditor is from City D, what is the probability that the
creditor takes tough action late?
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