Express the probability that the next customer will pay with a credit card as a reduced fraction.
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.
Michael is running a small business. He knows that last week 62 customers paid cash, 20 used a debit card, and 34 used a credit card. Express the probability that the next customer will pay with a credit card as a reduced fraction.
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