At a lottery competition, a person pays 20R to participate in the competition. If he rolls two dice and gets a sum of 8 (eight), he will win 100R, but if he gets a sum of 4 (four), he will win 200R. What is his expected gain ?
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.
At a lottery competition, a person pays 20R to participate in the competition. If he rolls two dice and gets a sum of 8 (eight), he will win 100R, but if he gets a sum of 4 (four), he will win 200R.
What is his expected gain ?
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