Suppose that a manager of a large apartment complex provides the following subjective probability estimates about the number that exists per month. Vacancies Probability 0 .05 1 .15 2 .35 3 .25 4 .10 5 .10 Provide the probability of each of the following events. a. No vacancies b. At least four vacancies c. Two or fewer vacancies
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 a manager of a large apartment complex provides the following subjective
|
Vacancies |
Probability |
|
0 |
.05 |
|
1 |
.15 |
|
2 |
.35 |
|
3 |
.25 |
|
4 |
.10 |
|
5 |
.10 |
Provide the probability of each of the following
a. No vacancies
b. At least four vacancies
c. Two or fewer vacancies
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
