SOLUTION: Suppose 2 quarters, 9 dimes, and 8 nickels, and 8 pennies are in a box. One coin is selected at random. What is the expected value of this experiement?
Thank you
Hi,
27 coins: 2 quarters, 9 dimes, and 8 nickels, and 8 pennies
One coin is selected at random.
expected value of this experiement:
25*2/27 + 10*9/27 + 5*8/27 + 8/27 = 188/27 = 7 cents