Powerball: Poisson Approximation to Binomial There is a 1/292,201,338 probability of winning the Powerball lottery jackpot with a single ticket. Assume that you purchase a ticket in each of the next 5200 different Powerball games that are run over the next 50 years. Find the probability of winning the jackpot with at least one of those tickets. Is there a good chance that you would win the jackpot at least once in 50 years?
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.
Powerball: Poisson Approximation to Binomial There is a 1/292,201,338
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