The Alliance Corp. expects to sell the following number of units of copper cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated. What is the expected value of the total sales projection? Outcome Probability Units Price A 0.70 225 $20 B 0.10 370 35 C 0.20 510 45
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.
I'm having a difficult time answering the following question from the textbook. The answer I come up with is $9,035. I get this by (for each row) multiplying the
The Alliance Corp. expects to sell the following number of units of copper cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated. What is the
|
Outcome |
Probability |
Units |
Price |
|
A |
0.70 |
225 |
$20 |
|
B |
0.10 |
370 |
35 |
|
C |
0.20 |
510 |
45 |
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