Trevor is interested in purchasing the local harware/sporting good store in the small town of Dove Creek, Montana, After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store store will gross over $850 (a) at least 3 out of 5 business days. (b) at least 6 out of 10 business days (c) fewer than 5 out of 10 days. I need to know the r values for each scenario
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.
Trevor is interested in purchasing the local harware/sporting good store in the small town of Dove Creek, Montana, After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store store will gross over $850
(a) at least 3 out of 5 business days.
(b) at least 6 out of 10 business days
(c) fewer than 5 out of 10 days.
I need to know the r values for each scenario
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