Of 2274 people who came into a bank to do business, 280 people made a deposit. Estimate the probability that the next person who comes in to bank to do business will make a deposit. (Show answer to three decimal places)
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.
It is given that the number of people made a deposit is 280 and the total number of people who came into a bank to do business is 2274.
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