ard roulette wheel has 38 slots numbered 00, 0, 1, 2, ... , 36. What is the expected profit for one spin of the roulette wheel with this bet? Round your answer to the nearest cent. Enter an expected loss as a negative number.
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.
You bet $50 on 00 in a game of roulette. If the wheel spins 00, you have a net win of $1,750, otherwise you lose the $50. A standard roulette wheel has 38 slots numbered 00, 0, 1, 2, ... , 36. What is the expected profit for one spin of the roulette wheel with this bet?
- Round your answer to the nearest cent.
- Enter an expected loss as a negative number.
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