In the game of roulette, a player can place a $6 bet on the number 24 and have a 1/38 probability of winning. If the metal ball lands on24,the player gets to keep the$6paid to play the game and the player is awarded an additional $210.Otherwise, the player is awarded nothing and the casino takes the player's$6.Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose.
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 game of roulette, a player can place a $6 bet on the number 24 and have a 1/38
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