What is the conditional probability that the coin was minted after 1900, given that it is rare
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.
Gabriel collects coins. He has 25 coins that were minted prior to 1900, and 8 of those coins are rare. He has 300 coins that were minted after 1900, and 14 are rare. What is the conditional probability that the coin was minted after 1900, given that it is rare? Round to the nearest hundredth.
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