probability that the next person who comes in to financial institution to do business will make a deposit.
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.
Of 2165 people who came into a financial institution to do business, 495 people made a deposit. Estimate the
The probability formula is,
There are 2,165 people who came into a financial institution to do business out of which 495 people made a deposit.
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