You work for a car dealership where you earn 16% commission on the profit of a car sale under $800, 24% on the profit of a sale above $800 but less than or equal to $2,000, and 29% on the profit of a sale above $2,000. If your most recent sale made a $1,978 profit. How much did you earn in commission on the sale?
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 work for a car dealership where you earn 16% commission on the profit of a car sale under $800, 24% on the profit of a sale above $800 but less than or equal to $2,000, and 29% on the profit of a sale above $2,000. If your most recent sale made a $1,978 profit. How much did you earn in commission on the sale?
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