In 2015, the federal debt was about $18 trillion. In 2015, the U.S. population was about 320 million. Assuming that the federal debt is increasingabout 4.5% per year and the U.S. population is increasing about 0.7% per year, determine the per capita debt (total debt divided by population) in 2030.
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.
In 2015, the federal debt was about $18 trillion. In 2015, the U.S. population was about 320 million. Assuming that the federal debt is increasing
about 4.5% per year and the U.S. population is increasing about 0.7% per year, determine the per capita debt (total debt divided by population) in 2030.
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