Weekly downtime of internet services from an internet service provider (in hours) has expected value 0.5 and variance 0.25. Based on past experience, the data scientist of a retailer store has calculated the loss function to the store from the downtime as C=30X+2X2 where X is the amount of weekly downtime and C is cost. Find the Expected cost, i.e, E(C).
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.
Weekly downtime of internet services from an internet service provider (in hours) has
Find the Expected cost, i.e, E(C).
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