I am a contestant on the TV show Remote Jeopardy,which works as follows. I am first asked a question aboutStupid Videos. If I answer correctly, I earn $100. I believethat I have an 80% chance of answering such a questioncorrectly. If I answer incorrectly, the game is over, and I winnothing. If I answer correctly, I may leave with $100 or goon and answer a question about Stupid TV Shows. If Ianswer this question correctly, I earn another $300, but if Ianswer incorrectly, I lose all previous earnings and am senthome. My chance of answering this question correctly is.60. If I answer the Stupid TV Shows question correctly, Imay leave with my “earnings” or go on and answer aquestion about Statistics. If I answer this question correctly,I earn another $500, but if I answer it incorrectly, I lose allprevious earnings and am sent home. My chance ofanswering this question correctly is .40. Draw a decisiontree that can be used to maximize my expected earnings.What are my expected earnings?
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.
I am a contestant on the TV show Remote Jeopardy,
which works as follows. I am first asked a question about
Stupid Videos. If I answer correctly, I earn $100. I believe
that I have an 80% chance of answering such a question
correctly. If I answer incorrectly, the game is over, and I win
nothing. If I answer correctly, I may leave with $100 or go
on and answer a question about Stupid TV Shows. If I
answer this question correctly, I earn another $300, but if I
answer incorrectly, I lose all previous earnings and am sent
home. My chance of answering this question correctly is
.60. If I answer the Stupid TV Shows question correctly, Imay leave with my “earnings” or go on and answer a
question about Statistics. If I answer this question correctly,
I earn another $500, but if I answer it incorrectly, I lose all
previous earnings and am sent home. My chance of
answering this question correctly is .40. Draw a decision
tree that can be used to maximize my expected earnings.
What are my expected earnings?
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