Question 2 the formula: A company's demand for golf balls as a function of sales price per ball is given by D(p) = 50 – 5p %3| where p is the price of a golf ball in dollars. It costs the company 1 dollar to make each golf ball. 1) In this model, what is the revenue as a function of price p? cost as a function of p? 2) find the optimal sales price per ball if the company is trying to maximize profit.

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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.