At a Raffle, 1000 tickets are sold at $5 each. There are 20 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random Variable X represent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once. Use the table below to help you construct a probability distribution for all of the possible values of X and their probabilities. X (Net Gain) Probability
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.
At a Raffle, 1000 tickets are sold at $5 each. There are 20 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random Variable X represent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once.
Use the table below to help you construct a
| X (Net Gain) | Probability |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
