what is the probability that unemployment grows by more than 3%? (b) what is the probability that unemployment did not rise by more than 3%
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.
It is estimated that there is a 30% chance that unemployment will increase by more than 3% next year. If this increase does occur, then there will be 80% chance that congress will enact a federally funded job programme. Otherwise, the
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