Determine whether the following probabilities are computed using classical methods, empirical methods, or subjective methods. a) Based on clinical trials, the probability of efficiency of a new drug is 75%. Classical empirical subjective b) According to the sports analyst, the probability that the Chicago Bears will win their next game is about 30% Classical empirical subjective
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.
Determine whether the following probabilities are computed using classical methods, empirical methods, or subjective methods.
a) Based on clinical trials, the
Classical empirical subjective
b) According to the sports analyst, the probability that the Chicago Bears will win their next game is about 30%
Classical empirical subjective
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