ose you model a game of chance with a discrete probability distribution. Let XX be the net amount of money won or lost by the player. Let P(X)P(X) be the probability of the corresponding outcome. The three events are as follows: There is a 23% chance the player wins 10 dollars. There is a 48% chance the player breaks even (value = $0) There is a 29% chance the player loses 5 dollars. Complete the table below to model the scenario
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.
Suppose you model a game of chance with a discrete
There is a 23% chance the player wins 10 dollars.
There is a 48% chance the player breaks even (value = $0)
There is a 29% chance the player loses 5 dollars.
Complete the table below to model the scenario
| X | P(X) |
|---|---|
| 0 | 0.48 |
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