Suppose that t years from now, one investment plan will be generating profit at the rate of P1(t)=110+t2 hundred dollars per year, while a second investment will be generating profit at the rate of P2(t)=206+4t hundred dollars per year. Compute the net excess profit assuming that you invest for the time period in which the rate of profitability of the second investment exceeds that of the first.
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 t years from now, one investment plan will be generating profit at the rate of P1(t)=110+t2 hundred dollars per year, while a second investment will be generating profit at the rate of P2(t)=206+4t hundred dollars per year. Compute the net excess profit assuming that you invest for the time period in which the rate of profitability of the second investment exceeds that of the first.
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