A casino features a game in which a weighted coin is tossed several times. The table shows the probability of each payout amount. To the nearest dollar, what is expected payout of the game? Payout Amount Probability $150 0.161 $2800 0.03 $105000 0.0006
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.
A casino features a game in which a weighted coin is tossed several times. The table shows the probability of each payout amount. To the nearest dollar, what is expected payout of the game?
| Payout Amount | Probability |
| $150 | 0.161 |
| $2800 | 0.03 |
| $105000 | 0.0006 |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
