## Exploring Binary and Categorical Data

- Key terms

- Expected Value:
- A marketer for new cloud technology offers two levels of service
- one priced at $300/month
- other is prices ad $50/month

- The marketer offers free webinars to generate leads and the firm figures that 5% of attends will sign up for $300 service and 15% will sign up for $50 service and 80% will not signup anything.
- The expected value is calulate as follows
- Multiply each outcome by its probability of occurence
- sum these values

`EV = (0.05 * 300) + (0.15 * 50) + 0.8 * 0 = 15 + 7.5 = 22.5`

- The expected value is 22.5$

- A marketer for new cloud technology offers two levels of service

## Correlation

- Key terms

- Refer Here for the scatter plots