Two coins are flipped. you win $2 if either 2 heads or 2 tails turn up; you lose $3 if a dead and a tail turn up. A) what is the expected value of the game? B) for the game to be fair, how much should you lose if a dead and a tail turn up?
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.
Two coins are flipped. you win $2 if either 2 heads or 2 tails turn up; you lose $3 if a dead and a tail turn up.
A) what is the
B) for the game to be fair, how much should you lose if a dead and a tail turn up?
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