Suppose a student is offered a chance to draw a card from an ordinary deck of 52 playing cards and win $13 for an ace, $10 for a king, and $3 for a queen. If the student pays $4 to play the game, what is the amount the student expects to win each time?
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 a student is offered a chance to draw a card from an ordinary deck of 52 playing cards and win $13 for an ace, $10 for a king, and $3 for a queen. If the student pays $4 to play the game, what is the amount the student expects to win each time?
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