Suppose 20% of the population are 65 orover, 26% of those 65 or over have loans, and 53% of thoseunder 65 have loans. Find the probabilities that a person fitsinto the following categories.a. 65 or over and has a loanb. Has a loan
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.
Suppose 20% of the population are 65 or
over, 26% of those 65 or over have loans, and 53% of those
under 65 have loans. Find the
into the following categories.
a. 65 or over and has a loan
b. Has a loan
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