Your company has created a new software tool. The tool is rated on a four point scale (1=very bad, 4=very good) on your website. The ratings are presented below. Find the expected value (mean), variance, standard deviation for the ratings of your widget. What percent of individuals rated your product as 2 or below? Ratings Odds 1 15% 2 25% 3 20%
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.
Your company has created a new software tool. The tool is rated on a four point scale (1=very bad, 4=very good) on your website. The ratings are presented below. Find the
individuals rated your product as 2 or below?
Ratings Odds
1 15%
2 25%
3 20%
4 40%
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