We have often observed the success of television networks in forecasting elections. This is a good example of the successful use of probability methods in applied problems. Consider how elections can be predicted by using relatively small samples in a simplified example. An election forecaster has obtained a random sample of 900 voters, in which 500 indicate that they will vote for Susan Chung. Should Susan anticipate winning the election?
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.
We have often observed the success of television networks in forecasting elections. This is a good example of the successful use of probability methods in applied problems. Consider how elections can be predicted by using relatively small samples in a simplified example. An election forecaster has obtained a random sample of 900 voters, in which 500 indicate that they will vote for Susan Chung. Should Susan anticipate winning the election?
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