If you purchase a ticket at random, What is the probability of winning any prize? What is the probability of winning $10,000, given that you have a winning ticket? What is the probability of not winning anything?
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.
- For one of the many scratch-and-win lottery games in Texas we have the following information.
There are 300,000,000 total tickets available. And the distribution is as follows
PRIZE NUMBER OF WINNERS
$2 29,900,000
$5 6,000,000
$10 800,000
$20 600,000
$50 125,000
$100 30,000
$1,000 2,500
$10,000 500
If you purchase a ticket at random,
- What is the probability of winning any prize?
- What is the probability of winning $10,000, given that you have a winning ticket?
- What is the probability of not winning anything?
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