Tickets for a raffle cost $$9. There were 693 tickets sold. One ticket will be randomly selected as the winner, and that person wins $$1700 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places. Expected Value =
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.
Tickets for a raffle cost $$9. There were 693 tickets sold. One ticket will be randomly selected as the winner, and that person wins $$1700 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the
If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places.
Expected Value = $
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