In the Equestria Daily 4 lottery, you select four numbers from 0 to 9, and selected numbers can be repeated, that is you can select 2232. A “straight” bet is won by selecting the same four numbers that are drawn in the lottery, and the numbers must be in the same order as the numbers that are drawn. Given these rules, the probability of winning a straight bet with one Daily 4 lottery ticket is 0.003. If you buy one ticket every day for 365 days and get a result of 5 winning tickets, is 5 a significantly high number of winning tickets? Why or why not?
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 the Equestria Daily 4 lottery, you select four numbers from 0 to 9, and selected numbers can be repeated, that is you can select 2232. A “straight” bet is won by selecting the same four numbers that are drawn in the lottery, and the numbers must be in the same order as the numbers that are drawn. Given these rules, the probability of winning a straight bet with one Daily 4 lottery ticket is 0.003.
If you buy one ticket every day for 365 days and get a result of 5 winning tickets, is 5 a significantly high number of winning tickets? Why or why not?
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