Brandon is setting up his own carnival game. His plan is to make sure that the game has a negative expected value, because that will be the most beneficial for his own profit. He decides to set the following rules. You pay $10 to play, and then you get to throw one dart at a dartboard. The dartboard is broken up into 8 equally sized sections. 3 of the sections are red. 4 of the sections are blue. 1 of the sections is green. If your dart hits the green section, Brandon hands you $30. If your dart hits any of the red sections, he gives you $15. If your dart hits any of the blue sections, you win nothing. What is the expected value for one turn? (Just write the number rounded to the nearest thousandths without the dollar sign. ie. 0.123 or -0.123)
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.
Brandon is setting up his own carnival game. His plan is to make sure that the game has a negative
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