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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-> 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?
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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.
