In order to raise money for a local senior citizen's home, the town council of Smallville decides to hold a charity raffle. There is one grand prize of $2,000 and 20 additional prizes of $400 each. If 1,000 tickets will be sold, and tickets sell for $15 A: The expected value of winnings is_____ (write answer as $x.xx or -$x.xx) B: Should you play? Yes or No
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 order to raise money for a local senior citizen's home, the town council of Smallville decides to hold a charity raffle. There is one grand prize of $2,000 and 20 additional prizes of $400 each. If 1,000 tickets will be sold, and tickets sell for $15
A: The
B: Should you play? Yes or No
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