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

Question

3 years ago

5

check amounts are $0, $20, $30, $35, and $75

1 answer:

maxonik [38] · Answer 1 · 2022-11-02T16:14:46+03:00

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