The U.S. Bureau of Printing and Engraving is responsible for printing this country’s paper money. The BPE has an impressively small frequency of printing errors; only 0.5 percent of all bills are too flawed for circulation. What is the probability that out of a batch of 1,000 bills. At least two are too flawed for circulation?
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 U.S. Bureau of Printing and Engraving is responsible for printing this
country’s paper money. The BPE has an impressively small frequency of printing
errors; only 0.5 percent of all bills are too flawed for circulation. What is the
probability that out of a batch of 1,000 bills. At least two are too flawed for
circulation?
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