Make up a probability distribution for this raffle. find the expected value of this raffle. a ticket costs $5. is this a good deal? Explain briefly.
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.
There are 100 tickets sold in a raffle. First prize is $100. There are three second prizes of $50. There are 5 third prizes of $20. the other tickets win nothing.
Make up a probability distribution for this raffle.
find the
a ticket costs $5. is this a good deal? Explain briefly.
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