The marketing department of a shoe store determined that the number of pairs of shoes sold varies inversely with the price per pair. A total of 36,000 pairs of sneakers sold at a price of $40 per pair. Approximately how many pairs of sneakers would the store expect to sell if the price were $30 per pair?
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 marketing department of a shoe store determined that the number of pairs of shoes sold varies inversely with the price per pair. A total of 36,000 pairs of sneakers sold at a price of $40 per pair. Approximately how many pairs of sneakers would the store expect to sell if the price were $30 per pair?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
