3 years ago

Find the expected value of the winnings

Mathematics

1 answer:

adelina 88 [10]3 years ago

3 0

Multiply each payout by the corresponding probability and take the total:

E[X] = 0×0.5 + 5×0.2 + 8×0.15 + 10×0.1 + 15×0.05 = 3.95

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