Customers are used to evaluate preliminary product designs. In the past, 90% of highly successful products received good reviews, 80% of moderately successful products received good reviews and 5% of poor products received good reviews. In addition, 50% of products have been highly successful, 30% of have been moderately successful and 20% have been poor products. If a new design attains a good review, what is the probability that it is a poor product? a). 0.014 b). 0.7 c). 0.34 d). 1 e). none of above
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.
Customers are used to evaluate preliminary product designs. In the past, 90% of highly successful products received good reviews, 80% of moderately successful products received good reviews and 5% of poor products received good reviews. In addition, 50% of products have been highly successful, 30% of have been moderately successful and 20% have been poor products. If a new design attains a good review, what is the probability that it is a poor product?
a). 0.014 b). 0.7 c). 0.34 d). 1 e). none of above
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