You are playing a game of dice where it involves rolling three dice and betting on one of the six numbers that are on the dice. The game costs P80 to play. You win P160 if the number you bet appears on only one dice, P180 if on two dice and P320 if on all three. What is your expected profit from the game?
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.
You are playing a game of dice where it involves rolling three dice and betting on one of the six numbers that are on the dice. The game costs P80 to play. You win P160 if the number you bet appears on only one dice, P180 if on two dice and P320 if on all three. What is your expected profit from the game?
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