Each member of a random sample of 15 business economists was asked to predict the rate of inflation for the coming year. Assume that the predictions for the whole population of business economists follow a normal distribution with standard deviation 1.8%.a. The probability is 0.01 that the sample standard deviation is bigger than what number?b. The probability is 0.025 that the sample standard deviation is less than what number?c. Find any pair of numbers such that the probability that the sample standard deviation that lies between these numbers is 0.90.
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.
Each member of a random sample of 15 business economists was asked to predict the rate of inflation for the coming year. Assume that the predictions for the whole population of business economists follow a
a. The
b. The probability is 0.025 that the sample standard deviation is less than what number?
c. Find any pair of numbers such that the probability that the sample standard deviation that lies between these numbers is 0.90.
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