In a States Pick 3 lottery game, you pay $1.41 to select a sequence of three digits from 0 to 9 such as 499 if you select the same sequence of the three digits that are drawn you went and collect 363.37 ? Probability of winning? Net profit? 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.
In a States Pick 3 lottery game, you pay $1.41 to select a sequence of three digits from 0 to 9 such as 499 if you select the same sequence of the three digits that are drawn you went and collect 363.37 ?
Net profit?
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