Suppose 54% of the banks in Switzerland are private organizations. If a sample of 705 banks is selected, what is the probability that the sample proportion of private banks will be greater than 53%? Round your answer to four decimal places.
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 54% of the banks in Switzerland are private organizations.
If a sample of 705 banks is selected, what is the
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