You have been offered two jobs tha you interested in. The first job has a starting salary of $35,000 with an annual raise of $2000 per year. The second job has a second salary of $30,000 with an annual raise of 4% per year.
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.
You have been offered two jobs tha you interested in. The first job has a starting salary of $35,000 with an annual raise of $2000 per year. The second job has a second salary of $30,000 with an annual raise of 4% per year.
Estimate how many years it would take before the second job gave you a better salary than the first job. Explain your reasoning.
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