SOLUTION: A box contains one each of $1, $5, $10, $20, and $100 bills. It costs $16 to reach in and withdraw one bill. What is the expected value? $

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Question 1162277: A box contains one each of $1, $5, $10, $20, and $100 bills. It costs $16 to reach in and withdraw one bill. What is the expected value?
$

Answer by ikleyn(52832)   (Show Source): You can put this solution on YOUR website!
.

There are 5 bills with the probability to draw    for each bill.


The expected value to draw  is   =  = 27.2  dollars.


The question is posed by unclear way, so I will stop at this point.



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