A ping pong ball is drawn at random from an urn consisting of balls numbered 4 through 9. A player wins $0.5 if the number on the ball is odd and loses $1 if the number is even. Let x be the amount of money a player will win/lose when playing this game, where x is negative when the player loses money. (a) Construct the probability distribution table for this game. Round your answers to two decimal places. Please see the picture. (b) What is the expected value of player's winnings? Round to the nearest hundreth. (c) Interpret the meaning of the expected value in the context of this problem.
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.
A ping pong ball is drawn at random from an urn consisting of balls numbered 4 through 9. A player wins $0.5 if the number on the ball is odd and loses $1 if the number is even.
Let x be the amount of money a player will win/lose when playing this game, where x is negative when the player loses money.
(a) Construct the
(b) What is the
(c) Interpret the meaning of the expected value in the context of this problem.
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