The selling price of a refrigerator is $584. If the markup is 25% of the dealer’s cost, what is the dealer’s cost of the refrigerator? (Note : markup, the amount added to the dealer’s cost of an item to arrive at the selling price of that item.)
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 selling price of a refrigerator is $584. If the markup is 25% of the dealer’s cost, what is the dealer’s cost of the refrigerator?
(Note : markup, the amount added to the dealer’s cost of an item to arrive at the selling price of that item.)
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