raffle tickets problem senior citizens of a parrticular barangay organize a christmas raffle bonanza. One thousand raffle tickets are sold for 50 pesos each. each one has an equal chance of winning. the first prize is a 32 inch led tv worth 10,000 pesos, the second prize is an electric fan worth of 5,000 pesos and the third prize is a grocery pack worth of 2,500 pesos. Let x denote the net gain from the purchase of one ticket. a. find the probability of winning any amount in the purchase of one ticket. b. Find the expected value of x, then interpret. the expected value is equal to the product of net gain and the probability of winning (in this case you have three chances of winning, you may win 112 then first, second ot third prize) plus the product of net loss and the probability of losing
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.
raffle tickets problem senior citizens of a parrticular barangay organize a christmas raffle bonanza. One thousand raffle tickets are sold for 50 pesos each. each one has an equal chance of winning. the first prize is a 32 inch led tv worth 10,000 pesos, the second prize is an electric fan worth of 5,000 pesos and the third prize is a grocery pack worth of 2,500 pesos. Let x denote the net gain from the purchase of one ticket.
a. find the
b. Find the
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