Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Connect with a community of experts ready to help you find solutions to your questions quickly and accurately. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

You draw and keep a single bill from a hat that contains $1, $10, $20, and $50 bill. what is the expected value of the game?

Sagot :

The Expected value of the game to you is 19 dollars. The Expected value of the game to you is 19 dollars.

Expected value (also called expected value, expected value, mathematical expected value, mean, average, or first moment) is a generalization of weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected random variables.

The expected value is the probability multiplied by the value of each outcome. For example, a 50% chance of winning $100 is worth $50 to you (if you don't mind the risk). You can use this framework to decide if you should participate in the lottery.

Learn more about Expected value here: https://brainly.com/question/15858152

#SPJ4

View image anshumanaryan799
Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.