Question

the prices of three t-shirts are $24, $30, and $36 what is the probability of choosing a $24 t-shirt is 1/6. the probability of choosing a $20 t-shirt is 1/2. The probability of choosing a $36 t-shirt is 1/3. what is the expected value of a t-shirt?

Answer 1

convert all to a common ratio

24 1/6

30 3/6

36 2/6

(24+30+30+30+36+36)/6

186/6

the expected value is 31.