Consider the following scenario. the twelve-number bet (a) Find the expected value of each $1 bet in roulette. (Round your answer to three decimal places.)  dollars (b) Interpret it. (Round your answer to one decimal place.) Over time, you should expect to lose about  cents for every dollar you bet.

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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.