ose you and I play the following game. A die is rolled. If the die shows a 1 or 2, then you pay me $1. If the die shows a 5 or 6, I pay you. Otherwise, no money is exchanged. a) We play this game 400 times. Find the expected value and the SE for the amount of money I win in these 400 times. b) Approximately what is the chance that I win $10 or
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.
Suppose you and I play the following game. A die is rolled. If the die shows a 1 or 2, then you pay me $1. If the die shows a 5 or 6, I pay you. Otherwise, no money is exchanged.
- a) We play this game 400 times. Find the
expected value and the SE for the amount of money I win in these 400 times.
- b) Approximately what is the chance that I win $10 or more in these 400 games?
- c) About what is the chance that I win more than 120 of the 400 games?
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