Chang is playing a game in which he spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Chang spins the spinner once. He wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $7 if the spinner stops on the number 4. He loses $1.25 if the spinner stops on 5 or 6. (a) Find the expected value of playing the game. ___ dollars (b) What can Chang expect in the long run, after playing the game many times?
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.
Chang is playing a game in which he spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random.
This game is this: Chang spins the spinner once. He wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $7 if the spinner stops on the number 4. He loses $1.25 if the spinner stops on 5 or 6.
(a) Find the
___ dollars
(b) What can Chang expect in the long run, after playing the game many times?
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