The lifetime mileage of a car can be modeled as a Weibull variable with parameter λ = 1 per 150000 miles and parameter a=1.25. a) What is the probability that a car will last between 100000 and 150000 miles? b) A dealer sold 10 cars on a day with a guarantee that any car lasting less than 100000 miles will be replaced by another car with a 30% discount. What is the probability that the dealer has to provide the discount on 2 or fewer of these cars?
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.
The lifetime mileage of a car can be modeled as a Weibull variable with parameter λ = 1 per 150000 miles and parameter a=1.25.
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