Channel Utilization

Question

Consider a LAN with 500 stations connected to five 500 m segments. The data rate is 10 Mbps and slot time is 51.2 micro sec, If all the stations transmit With equal probability what is the channel utilization using a frame size of 512 bytes?
Note-Number of contention slots are 1.716

how to proceed with these kind of questions?

Comments

yes what he's trying to imply is
efficiency/channel utilization=$\frac{transmission time}{transmission time+contention duration}$

where contention duration=contention interval*slot time

here the contention interval/slots is given so we don't need to calculate from the contention interval formula

@Hemanth_13

i just understood how they're calculation efficiency, but I've no idea about the contention period thing in Ethernet. also unable to understand how they got the formula 
contention intervals/slots=$(1-\frac{1}{N})^{N-1}$

if you're able to understand that part or anything about contention duration in Ethernet then pls do share here

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https://gateoverflow.in/96567/ethernet here you can get the explanation.

A=$\binom{N}{1} p^1*(1-P)^{N-1}$  --> Probability of getting a channel(Binomial theorem)

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can u explain the contention part in Ethernet w.r.t efficiency?