If you bet $ 1 on number 13 at roulette (or on any other number) then you win $ 35 if that number comes up, an event of probability 1/38, and you lose your dollar otherwise. Suppose you play 70 times. Use the Poisson approximation estimate the probability that (a)youhavewon0timesandlost$70,and(b)youhavewon1timeandlost$34. (c)if you win 2 times you have won $ 2. Combine the results of (a) and (b) to conclude that the probability you will have won more money than you have lost is larger than 1/2.
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.
If you bet $ 1 on number 13 at roulette (or on any other number) then you win $ 35 if that number comes up, an
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