Imagine the two following situations. In both, you flip a coin two times. In the first, each time you flip it you either win $10 or win nothing. In the second set-up, the first time you flip it you either win $10 or win nothing (the same as the individual trials in the first set-up). But on the second flip, you either lose $10 or win nothing. What are the respective expected payoffs of these two games? What are their respective variances? As usual, show your work.
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.
Imagine the two following situations. In both, you flip a coin two times. In the first, each time you flip it you either win $10 or win nothing. In the second set-up, the first time you flip it you either win $10 or win nothing (the same as the individual trials in the first set-up). But on the second flip, you either lose $10 or win nothing. What are the respective expected payoffs of these two games? What are their respective variances? As usual, show your work.
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