MATH SOLVE

2 months ago

Q:
# A box contains 14 nickels, 17 dimes and 20 pennies. if a coin is picked at random from the box, what is the average value of the draw in dollars?

Accepted Solution

A:

The expected value is

.. (14*.05 +17*.10 +20*.01)/(14 +17 +20)

.. = (.70 +1.70 +.20)/51

.. = 2.60/51

.. β 0.05098 . . . . dollars

.. (14*.05 +17*.10 +20*.01)/(14 +17 +20)

.. = (.70 +1.70 +.20)/51

.. = 2.60/51

.. β 0.05098 . . . . dollars