A company audit showed that of 867 bills that were sent out, 565 were paid on time, 122 were paid up to 30 days late, 75 were paid between 31 and 90 days late, and 105 remained unpaid after 90 days. One bill is selected at random. a) What is the probability that the bill was paid on time? b) What is the probability that the bill was paid, but it was paid late? c) What is the probability that the bill was unpaid after 90 days?
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.
A company audit showed that of 867 bills that were sent out, 565 were paid on time, 122 were paid
up to 30 days late, 75 were paid between 31 and 90 days late, and 105 remained unpaid after 90
days. One bill is selected at random.
a) What is the
b) What is the probability that the bill was paid, but it was paid late?
c) What is the probability that the bill was unpaid after 90 days?
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