Two balls are chosen randomly from an urn containing 8 white, 4 black, and 2 orange balls. Suppose that we win $2 for each black ball selected and we lose $1 for each white ball selected. Let X denote our winnings. What are the possible values of X, and what are the probabilities associated with each value?

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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.