SOLUTION: Assume that the drawer contains 15 coins: 4 quarters, 6 dimes, and 5 nickels. One coin is randomly selected. What is the expected value of the coin selected (in cents)?

Question 1135522: Assume that the drawer contains 15 coins: 4 quarters, 6 dimes, and 5 nickels. One coin is randomly selected.
What is the expected value of the coin selected (in cents)?
Answer by VFBundy(438) (Show Source): You can put this solution on YOUR website!
Probability of choosing a quarter = 4/15
Probability of choosing a dime = 6/15
Probability of choosing a nickel = 5/15

Multiply the probability of a coin by its value:

4/15 * 25 cents = 6.6667 cents
6/15 * 10 cents = 4.0000 cents
5/15 * 5 cents = 1.6667 cents

Add all these together to find the expected value:

6.6667 + 4.0000 + 1.6667 = 12.3334

So, the expected value is 12-1/3 cents.

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