Every home football game for the past 8 years at Eastern State University has been sold out. The revenues from ticket sales are significant, but the sale of food, beverages, and souvenirs has contributed greatly to the overall profitability of the football program. One particular souvenir is the football program for each game. The number of programs sold at each game is described by the following probability distribution: number of programs sold-First value, probability-second value (23, 0.15; 24, 0.22; 25, 0.24; 26, 0.21; 27, 0.18. Each program costs $0.80 to produce and sells for $2.00. Any programs that are not sold are donated to a recycling center and do not produce any revenue. If the university decided to print 2,600 programs for each game, what would the average profits be for the three games simulated with the following random four values: 13, 19, 39.

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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.