The profit for a product is given by P = 1600 – 100x + x² , where x is the number of units produced and sold. a) How many units should be produced and sold to see the minimum profit? What is that minimum profit ? b) How many units should be produced and sold that will give break-even ( that is , return a profit zero ) ?

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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.