A red die and a blue die are rolled. You win or lose money depending on the sum of the values of the two dice. If the sum is 2, 7, or 12, you win $6. If the sum is 3, 5, or 9, you win $2. If the sum is any other value (4, 6, 8, 10, or 11), you lose $3. Let X be a random variable that corresponds to your net winnings in dollars. What is the expected value of X?
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 red die and a blue die are rolled. You win or lose money depending on the sum of the values of the two dice.
If the sum is 2, 7, or 12, you win $6.
If the sum is 3, 5, or 9, you win $2.
If the sum is any other value (4, 6, 8, 10, or 11), you lose $3.
Let X be a random variable that corresponds to your net winnings in dollars. What is the expected value of X?
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