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nikklg [1K]
3 years ago
5

a person pays $25 to randomly select one of 5 envelopes containing a different check amount. determine the expected value if the

check amounts are $0, $20, $30, $35, and $75
Mathematics
1 answer:
maxonik [38]3 years ago
3 0

Answer:

Expected value = $32

Step-by-step explanation:

Given:

Check amount = $0, $20, $30, $35, $75

Find:

Expected value

Computation:

Expected value = [$0 + $20 + $30 + $35 + $75] / 5

Expected value = [$160] / 5

Expected value = $32

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