Of all the students who take the CPA examination, one-fourth have a Master’s degree and the remainder have Bachelor’s degrees. Half of the students with Bachelor’s degrees pass the examination, and three-fourths of those with Master’s degrees pass. Find the probability that a student chosen at random from those taking the exam will pass
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.
Of all the students who take the CPA examination, one-fourth have a Master’s degree and the remainder have Bachelor’s degrees. Half of the students with Bachelor’s degrees pass the examination, and three-fourths of those with Master’s degrees pass.
Find the probability that a student chosen at random from those taking the exam will pass
It is given that one-fourth have a Master’s degree and the remainder have Bachelor’s degrees. Half of the students with Bachelor’s degrees pass the examination, and three-fourths of those with Master’s degrees pass.
The joint probability table is,
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