Insurance companies are interested in knowing the population proportion of drivers who always buckle up before riding in a car.When designing a study to determine this population proportion, what is the minimum number of drivers you would need to survey to be 95% confident that the population proportion is estimated to within 0.05?
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.
Insurance companies are interested in knowing the population proportion of drivers who always buckle up before riding in a car.
When designing a study to determine this population proportion, what is the minimum number of drivers you would need to survey to be 95% confident that the population proportion is estimated to within 0.05?
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