In another game at Bonehead Casino in Reno, the player draws one card from a standard deck. If it is an A, Then the player wins $100 a Q, 8, Then the player wins $80 a K, Then the player wins $70; anything else, the player loses. It costs $25 to play (for each play). Now, Melvin plays the game 5000 times, Rufus plays the game 80,000 times. Find the probability that (a) Melvin makes $7000 or more. (b) Rufus makes $14,400 or more
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 another game at Bonehead Casino in Reno, the player draws one card from a standard deck.
If it is
an A, Then the player wins $100
a Q, 8, Then the player wins $80
a K, Then the player wins $70;
anything else, the player loses.
It costs $25 to play (for each play).
Now, Melvin plays the game 5000 times,
Rufus plays the game 80,000 times. Find the
(a) Melvin makes $7000 or more.
(b) Rufus makes $14,400 or more
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