A guessing game at a casino features 50 cards labeled with the numbers 1 though 50. Four cards will be drawn without replacement and each player will guess the card numbers. The probability of each payout amount is shown in the table. To the nearest dollar, what is the expected payout of the game? Probability Payout Amount 0.126 $130 0.026 $2,800 0.0007 $145,000
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 guessing game at a casino features 50 cards labeled with the numbers 1 though 50. Four cards will be drawn without replacement and each player will guess the card numbers. The probability of each payout amount is shown in the table. To the nearest dollar, what is the expected payout of the game?
| Probability | Payout Amount |
| 0.126 | $130 |
| 0.026 | $2,800 |
| 0.0007 | $145,000 |
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