Question 2: A insurance salesman sells Insurance policies of life, health and vehicle. He on an average sells 5 insurance policies combined all together per week. Calculate the probability that in a given week he will sell Exactly 3 Policies 3 or more policies but less than 6 policies. Assuming that there are 5 working days per week, what is the probability that he will sell one policy per day?
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.
Question 2: A insurance salesman sells Insurance policies of life, health and vehicle. He on an average sells 5 insurance policies combined all together per week. Calculate the probability that in a given week he will sell
- Exactly 3 Policies
- 3 or more policies but less than 6 policies.
- Assuming that there are 5 working days per week, what is the probability that he will sell one policy per day?
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