Eighty percent of households say they would feel secure if they had 50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings. Find the probability that the number that say they would feel secure is exactly five, (b) more than five, and (c) at most five c.) Find the probability that the number that say they would feel secure is at most five. P(<5)= (round to three decimal places as needed).
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.
Eighty percent of households say they would feel secure if they had 50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings. Find the
c.) Find the probability that the number that say they would feel secure is at most five. P(<5)=
(round to three decimal places as needed).
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