In the Monopoly Millionaires' Club lottery game, you pay $5 and select five different numbers between 1 and 52, and then a sixth number between 1 and 28 is randomly assigned to you. Winning requires that your five numbers match those drawn (in any order), and then your sixth assigned number must also match. Find the expected value of playing the game if the prize for having all 6 numbers correct is $10 million and it is the only prize.
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 Monopoly Millionaires' Club lottery game, you pay $5 and select five different numbers between 1 and 52, and then a sixth number between 1 and 28 is randomly assigned to you. Winning requires that your five numbers match those drawn (in any order), and then your sixth assigned number must also match.
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