According to the Chronicles of Contrived Statistics (March, 2016), the probability that Elon Musk will offer you a free trip into space in the next month is 42%. The probability that scientists from Area 51 will start selling pet aliens next month is 24%. Finally, the probability that either Elon Musk will offer you a free trip to space or that scientists will begin sales of pet aliens next month is 22%. What is the probability that both Elon Musk will offer you a free trip into space and scientists from Area 51 will start selling pet aliens in the next month?
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 the Chronicles of Contrived Statistics (March, 2016), the probability that Elon Musk will offer you a free trip into space in the next month is 42%. The probability that scientists from Area 51 will start selling pet aliens next month is 24%. Finally, the probability that either Elon Musk will offer you a free trip to space or that scientists will begin sales of pet aliens next month is 22%. What is the probability that both Elon Musk will offer you a free trip into space and scientists from Area 51 will start selling pet aliens in the next month?
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