Rework problem 7 of the review problems for Chapter 4 in your textbook, in which three balls are selected simultaneously and randomly from a box. But assume that the box contains 8 red balls and 7 green balls. Also assume that each red ball selected pays $0.60, that each green ball selected pays $0.20, and that it costs $1.30 to play the game. A random variable X is defined to be the net payoff for a player. How many different values are possible for the random variable X?
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.
Rework problem 7 of the review problems for Chapter 4 in your textbook, in which three balls are selected simultaneously and randomly from a box. But assume that the box contains 8 red balls and 7 green balls. Also assume that each red ball selected pays $0.60, that each green ball selected pays $0.20, and that it costs $1.30 to play the game. A random variable X is defined to be the net payoff for a player. How many different values are possible for the random variable X?
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