Part C: At the Iron Bank, 62% of customers have checking accounts, 24% have savings accounts, and 17% have both checking and savings accounts. Of the Iron Bank customers who hold checking accounts, what percentage also have a savings account? • Part D: With the same numbers from Part C, what is the probability that an Iron Bank customer has neither a checking account nor a savings account? • Part E: Again with the same numbers from Part C, what proportion of Iron Bank customers have a savings account but not a checking account?
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.
Part C: At the Iron Bank, 62% of customers have checking accounts, 24% have savings accounts, and 17% have both checking and savings accounts. Of the Iron Bank customers who hold checking accounts, what percentage also have a savings account?
• Part D: With the same numbers from Part C, what is the probability that an Iron Bank customer has neither a checking account nor a savings account?
• Part E: Again with the same numbers from Part C, what proportion of Iron Bank customers have a savings account but not a checking account?
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