document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=587079>Question 587079</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you have a taxing policy where 60% of the population pays $10,000 per year in taxes per person, and the other 40% pays $100 per year in taxes per person.<BR>\n" );
document.write( "What is the expected value for the amount of yearly taxes paid by one person in this population? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #373966 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=373966\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose you have a taxing policy where 60% of the population pays $10,000 per year in taxes per person, and the other 40% pays $100 per year in taxes per person.<BR>\n" );
document.write( "What is the expected value for the amount of yearly taxes paid by one person in this population?<BR>\n" );
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document.write( "E(x) = 0.60*10000 + 0.40*100 = 6000 + 40 = $6040<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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