A robber is thinking of committing a robbery. He has a 0.5 probability of obtaining $2500 and a 0.5 probability of obtaining $7500 . What is the expected value of the money to be obtained in the robbery?
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 robber is thinking of committing a robbery. He has a 0.5
Given information:
In a robbery, let X be the amount obtained on committing a robbery.
The probability distribution of the amount obtained is provided as:
| X | P(X=x) |
| $2500 | 0.5 |
| $7500 | 0.5 |
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