According to a Gallup poll, 60% of American adults prefer saving over spending. Let X = the number of American adults out of a random sample of 50 who prefer saving to spending. d. Use your calculator to find the following probabilities: i. the probability that 25 adults in the sample prefer saving over spending ii. the probability that at most 20 adults prefer saving iii. the probability that more than 30
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.
According to a Gallup poll, 60% of American adults prefer saving over spending. Let X = the number of American adults out of a random sample of 50 who prefer saving to spending.
d. Use your calculator to find the following probabilities:
i. the probability that 25 adults in the sample prefer saving over spending
ii. the probability that at most 20 adults prefer saving
iii. the probability that more than 30 adults prefer saving
e. Using the formulas, calculate the (i) mean and (ii) standard deviation of X
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