The credit manager of Northwest Department Store would like to know what proportion of the charge customers take advantage of the store’s deferred-payment plan each year. The manager would like to estimate this figure to be within 0.1 at 90% confidence level. Determine the desired sample size to meet the requirements.
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.
The credit manager of Northwest Department Store would like to know what proportion of the charge customers take advantage of the store’s deferred-payment plan each year. The manager would like to estimate this figure to be within 0.1 at 90% confidence level. Determine the desired
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