On the average, a grocer sells three of a certain article per week. Howmany of these should he have in stock so that the chance of his running out withina week is less than 0.01? Assume a Poisson distribution.
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.
On the average, a grocer sells three of a certain article per week. How
many of these should he have in stock so that the chance of his running out within
a week is less than 0.01? Assume a Poisson distribution.
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