In a game involving the roll of a single die, the following rules have been agreed upon: I pay P1 for each roll of the die. If a 6 comes out , I receive P5; if a 5 comes out I receive P2.50, and if a 4 or 2 comes out I receive P2. I receive nothing for a 1 or 3. Find my Expected Value. Interpret the result.
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.
In a game involving the roll of a single die, the following rules have been agreed upon: I pay P1 for each roll of the die. If a 6 comes out , I receive P5; if a 5 comes out I receive P2.50, and if a 4 or 2 comes out I receive P2. I receive nothing for a 1 or 3. Find my
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