An LG Dishwasher, which costs $1000, has a 16% chance of needing to be replaced in the first 2 years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume the dishwasher is replaced in the first 2 years. a) Write out the probability distribution for the value of the extended warranty. Make sure you enter your X values from smallest to largest. X P(X) b) What is the expected value of the extended warranty? Round final answer to 2 decimal places and write the units in the second box.
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.
An LG Dishwasher, which costs $1000, has a 16% chance of needing to be replaced in the first 2 years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume the dishwasher is replaced in the first 2 years.
a) Write out the probability distribution for the value of the extended warranty.
Make sure you enter your X values from smallest to largest.
X | P(X) |
b) What is the
Round final answer to 2 decimal places and write the units in the second box.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images