officers of the Mathematics Club are planning to sell 280 tickets to be raffled during the school’s foundation day. One ticket will win ₱5,000, two tickets will win ₱3,000, three tickets will win ₱2,000 and the other tickets will win nothing. If you will buy one ticket, what will be your expected value and variance of his gain?
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.
The officers of the Mathematics Club are planning to sell 280 tickets to be
raffled during the school’s foundation day. One ticket will win ₱5,000, two
tickets will win ₱3,000, three tickets will win ₱2,000 and the other tickets will
win nothing. If you will buy one ticket, what will be your
variance of his gain?
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