Answered

Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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
Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.