If the publishing company has a total of 280 sales representatives, what is the expected bonus that the company will pay?
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.
The manager of a publishing company plans to give a $24,000 bonus to the top 11 percent, $13,000 to the next 35 percent, and $6,000 to the next 12 percent of sales representatives. If the publishing company has a total of 280 sales representatives, what is the expected bonus that the company will pay?
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