A game has 3 possible outcomes, with probabilities p1, p2, and p3. The amount of money that you will win or lose for each outcome is v1, v2, and v3, respectively. What is the expression p1v1 + p2v2 + p3v3 equal to?
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 game has 3 possible outcomes, with probabilities p1, p2, and p3. The amount of money that you will win or lose for each outcome is v1, v2, and v3, respectively. What is the expression p1v1 + p2v2 + p3v3 equal to?
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