The payoffs for the slot machine shown in the figure are in the following table. First one cherry 2 coins First two cherries 6 coins First two wheels are cherries and the third wheel a bar 11 coins Three cherries 11 coins Three oranges 14 coins Three plums 14 coins Three bells 24 coins Three bars (jackpot) 50 coins What is the mathematical expectation for playing the game with the coin being a quarter dollar? Assume the three wheels are independent. (Assume you are playing one coin. Round your answer to two decimal places.)
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.
The payoffs for the slot machine shown in the figure are in the following table.
| First one cherry | 2 coins | |
| First two cherries | 6 coins | |
| First two wheels are cherries and the third wheel a bar |
11 coins | |
| Three cherries | 11 coins | |
| Three oranges | 14 coins | |
| Three plums | 14 coins | |
| Three bells | 24 coins | |
| Three bars (jackpot) | 50 coins |
What is the mathematical expectation for playing the game with the coin being a quarter dollar? Assume the three wheels are independent. (Assume you are playing one coin. Round your answer to two decimal places.)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
