The following is the probability function used to depict the projected net income (in millions) for the coming year for the company ABC limited: 1. What is the probability that the company has net income of less than $1 million for the coming year? 2. What is the probability that the company is not profitable in the coming year? 3. What is the probability that the company makes profit?
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 following is the
1. What is the probability that the company has net income of less than $1 million for the coming year?
2. What is the probability that the company is not profitable in the coming year?
3. What is the probability that the company makes profit?
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