n the casino game chuck-a-luck, three fair six sided dice are rolled. One possible bet is $1 on fives, and the payoff is equal to $1 for each five on that roll. In addition, the dollar bet is returned if at least one five is rolled. The dollar that was bet is lost only if no fives are rolled. Let X denote the payoff for this game. Then X can equal−1,1,2 or 3.(a) Determine the pmf f(x).(b) Calculate the meanμand variance σ2.
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 casino game chuck-a-luck, three fair six sided dice are rolled. One possible bet is $1 on fives, and the payoff is equal to $1 for each five on that roll. In addition, the dollar bet is returned if at least one five is rolled. The dollar that was bet is lost only if no fives are rolled. Let X denote the payoff for this game. Then X can equal−1,1,2 or 3.(a) Determine the pmf f(x).(b) Calculate the meanμand variance σ2.
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