Determine whether the following statement makes sense or does not make​ sense, and explain your reasoning.   ​Here's my​ dilemma, I can accept a $1500bill or play a game ten times. For each roll of the single​ die, I win ​$200 for rolling 1 or​ 2; I win $100 for rolling​ 3; and I lose $100 for rolling​ 4, 5, or 6. Based on the expected​ value, I should accept the $1500 bill.

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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.