You are the marketing director for a company that manufactures bodybuilding supplements, and you are planning to run ads in Sports Illustrated and GQ Magazine. On the basis of readership data, you estimate that each ad in Sports Illustrated will be read by 600,000 people in your target group, while each ad in GQ will be read by 150,000. You would like your ads to be read by at least 9 million people in the target group, and you plan to place at least 8 ads in Sports Illustrated and at least 4 ads in GQ during the next year. Sports Illustrated quotes you $2000 per ad, while GQ quotes you $1000 per ad. How many ads should be placed in each magazine to satisfy your requirements at a minimum cost? Sports Illustrated ads GQ Magazine ads

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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.