I bet $100 on a horse A and $100 on horse B in separate races. On each horse, my expected dollar payoff (the money I expect to get back) is $60, and the standard deviation of my dollar payoff is $20. The two bets have no covariance. What is my expected total payoff? What is the standard deviation of my total payoff?
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.
Question 4
I bet $100 on a horse A and $100 on horse B in separate races. On each horse, my expected dollar payoff (the money I expect to get back) is $60, and the standard deviation of my dollar payoff is $20. The two bets have no
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