For the last 3 years a college had 18% of their students receiving a financial aid loan miss at least one payment. They set up a financial literacy workshop and offered it to a sample of 320 students receiving a financial aid loan. Of the students who attended the workshop, 44 ended up missing at least one payment. At the 5% significance level is there enough evidence to conclude that the workshop will reduce the population proportion of financial aid students who miss at least one payment?
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.
For the last 3 years a college had 18% of their students receiving a financial aid loan miss at least one payment. They set up a financial literacy workshop and offered it to a sample of 320 students receiving a financial aid loan. Of the students who attended the workshop, 44 ended up missing at least one payment. At the 5% significance level is there enough evidence to conclude that the workshop will reduce the population proportion of financial aid students who miss at least one payment?
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