Suppose you play a game where you toss three fair coins. If you get three tails, you win $10. Otherwise, you lose $2. If you were to play this game 15 times, how much would you expect to gain or lose? Do not round until the final answer. Enter an expected loss as a negative number.
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 you play a game where you toss three fair coins. If you get three tails, you win $10. Otherwise, you lose $2. If you were to play this game 15 times, how much would you expect to gain or lose?
- Do not round until the final answer.
- Enter an expected loss as a negative number.
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