In the game "spin the wheel," a player spins a wheel like the one below (attached). A player can continue to spin the wheel and accumulate his prize money until they spin "Game Over." With luck, a player could win thousands of dollars, but he could also win nothing if the fi rst spin results in "Game Over.". Find the expected prize money of this 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.
In the game "spin the wheel," a player spins a wheel like the one below (attached).
A player can continue to spin the wheel and accumulate his prize money until they spin "Game Over." With luck, a player could win thousands of dollars, but he could also win nothing if the fi rst spin results in "Game Over.".
Find the expected prize money of this game.
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