An unfair coin is flipped. If a head turns up, you win $1. If a tail turns up, you lose $1. The probability of a head is .53 and the probability of a tail is .47. Let X be the random variable for the amount won on a single play of this game. What is the expected value of the game?
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.
An unfair coin is flipped. If a head turns up, you win $1. If a tail turns up, you lose $1. The
Given Information :
An unfair coin is flipped. If a head turns up, you win $1. If a tail turns up, you lose $1. The probability of a head is 0.53 and the probability of a tail is 0.47.
Let , X be the random variable for the amount won on a single play of this game.
- Expected value of a random variable is defined as the product of values of random variable with weight as probability associated with value of random variable.
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