The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.00. There is 1 winning ticket out of the 150 tickets sold. The winner gets a prize worth $60.00. What is the expected value (to the PTO) of one raffle ticket?
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.
The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.00. There is 1 winning ticket out of the 150 tickets sold. The winner gets a prize worth $60.00.
What is the
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
