Twenty thousand raffle tickets are sold. One first prize of $2000 two second prizes of $1000 and three third prizes of $200 each will be awarded, with all winners selected randomly , if you purchased one ticket , what are your expected gross winnings ?
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.
Twenty thousand raffle tickets are sold. One first prize of $2000 two second prizes of $1000 and three third prizes of $200 each will be awarded, with all winners selected randomly , if you purchased one ticket , what are your expected gross winnings ?
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