SOLUTION: A box contains ten php10 bills, five php20 bills, three php50 bills and one Php100 bill. Find the expectation . Is the game fair?

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Question 1151688: A box contains ten php10 bills, five php20 bills, three php50 bills and one Php100 bill. Find the expectation . Is the game fair?
Answer by greenestamps(13203) About Me  (Show Source):
You can put this solution on YOUR website!


Assuming the player selects one bill randomly, the "expectation" (expected value) is

%2810%2F19%29%2A10%2B%285%2F19%29%2A20%2B%283%2F19%29%2A50%2B%281%2F19%29%2A100+=+450%2F19

The game is fair if the cost to play the game is 450/19....