In a TV game show, for prizes are hidden on a game board which contains 60 spaces. Our prize is worth $1500, two prizes are worth $750, and the other price is worth $50. The remaining spaces contain no prizes. The game show host offers a sure price of $50 not to play this game.Should I contestant choose the sure prize or play the game? Answer Choices play Doesn’t matter Don’t

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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.