Census Bureau report on the income of Americans says that with 90% confidence the median income of all U.S. households in a recent year was $57,005 with a margin of error of ±$742. Your classmate concludes that this means that 90% of all households had incomes in the range $57,005 ± $742. Is he correct? If not, write a better interpretation.
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.
A Census Bureau report on the income of Americans says that with 90% confidence the median
income of all U.S. households in a recent year was $57,005 with a margin of error of ±$742.
Your classmate concludes that this means that 90% of all households had incomes in the
$57,005 ± $742. Is he correct? If not, write a better interpretation.
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