How do you solve this btw it’s gr11 applied
1 answer:
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Answer:
$0.0646 is the expected value of the draw.
Step-by-step explanation:
1 nickel = 5 cents
1 dime = 10 cents
1 penny = 1 cent
Total number of coins =
Probability that a nickel is selected is = 14/35
Probability that a dime is selected is = 15/35
Probability that a penny is selected is = 6/35
So, the expected value of the draw will be =
= 6.457 cents ≈6.46 cents
So, in dollars it is = = $0.0646
So, $0.0646 is the expected value of the draw.