In the game of roulette, there is a wheel with spaces marked 0 through 36 and a space marked 00. Find the probability of winning if you pick the number 7 and it comes up on the wheel. Find the odds against winning if you pick the number 7. The casino will pay you $20 for every dollar you bet if your number comes up. How much profit is the casino making on the bet?
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.
In the game of roulette, there is a wheel with spaces marked 0 through 36 and a space marked 00.
- Find the probability of winning if you pick the number 7 and it comes up on the wheel.
- Find the odds against winning if you pick the number 7.
- The casino will pay you $20 for every dollar you bet if your number comes up. How much profit is the casino making on the bet?
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