Suppose it costs $29 to roll a pair of dice. You get paid 4 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? The expected payoff of the game is $? is it a fair game?
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 it costs $29 to roll a pair of dice. You get paid 4 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game?
The expected payoff of the game is $?
is it a fair game?
The sample space when two dice are rolled is given as follows:
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