The success of a temperamental entrepreneur heavily depends on the outcome of the previous deal. If the previous deal was successful, then the probability of success of the current deal is 3/4. When the previous deal was unsuccessful, the probability that the current deal will be successful 1/4. Suppose the probability of a successful deal at the selected moment is 0,5. Calculate the probability that out of three sequent deals: a. all three are successful; b. none are successful; c. at least two are successful.
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 success of a temperamental entrepreneur heavily depends on the outcome of the previous deal. If the previous deal was successful, then the
a. all three are successful;
b. none are successful;
c. at least two are successful.
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