In a lottery game, a player picks six numbers from 1 to 20. If the player matches all six numbers, they win 50,000 dollars. Otherwise, they lose $1. Hint: There are 38760 possible ways of choosing six numbers, and you want just the one winning combination. What is the expected value of this game?
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 lottery game, a player picks six numbers from 1 to 20. If the player matches all six numbers, they win 50,000 dollars. Otherwise, they lose $1. Hint: There are 38760 possible ways of choosing six numbers, and you want just the one winning combination.
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