Use the following information to answer 1c & 1d. The probability that a company will make a profit this year is 0.74 (1c) Find the probability that the company will not make a profit this year. Show work and explain. (1d) Find the "odds" against the company making a profit. Show work and explain.
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.
Use the following information to answer 1c & 1d.
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(1c) Find the probability that the company will not make a profit this year. Show work and explain.
(1d) Find the "odds" against the company making a profit. Show work and explain.
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