Swiss Watches Ltd. purchases watch stems for their watches in lots of 10,000. Their sampling plan calls for checking 20 stems, and if 3 or fewer stems are defective, the lot is accepted. Based on the sampling plan, what is the probability that a lot of 10%, 20%, 30%, and 40% defective will be accepted? (Round your answers to 3 decimal places.) Percent Defective Probability of accepting the lot 10% 20% 30% 40%

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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.