Consider the following game of chance based on the spinner below: Each spin costs $2. If the spinner lands on D the player wins $7, if the spinner stops on C the player wins a dime otherwise the player wins nothing. Calculate the players expected winnings. Express your answer to at least three decimal places in dollar form.
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.
Consider the following game of chance based on the spinner below:
Each spin costs $2. If the spinner lands on D the player wins $7, if the spinner stops on C the player wins a dime otherwise the player wins nothing. Calculate the players expected winnings. Express your answer to at least three decimal places in dollar form.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
