pose that 85% of all business managers are willing to switch companies if offered a salary increase of 20%. If a headhunter randomly contacts a simple random sample of 51 managers, what is the probability that the proportion willing to switch companies if offered a higher salary is between 0.9115 and 0.946? (Choose the best/closest answer to account for minor rounding) Hint: For maximum accuracy, you should use technology rather than the Normal Tables to compute this probability.
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.
Suppose that 85% of all business managers are willing to switch companies if offered a salary increase of 20%. If a headhunter randomly contacts a simple random sample of 51 managers, what is the
Hint: For maximum accuracy, you should use technology rather than the Normal Tables to compute this probability.
- .0819
- .6900
- .0345
- .8633
- .0742
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