SOLUTION: At a special clothing sale at the Crescent Oaks Country Club, after the cashier rings up your purchase, you select a slip of paper from a box. The slip of paper indicates the dolla
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-> SOLUTION: At a special clothing sale at the Crescent Oaks Country Club, after the cashier rings up your purchase, you select a slip of paper from a box. The slip of paper indicates the dolla
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Question 401483: At a special clothing sale at the Crescent Oaks Country Club, after the cashier rings up your purchase, you select a slip of paper from a box. The slip of paper indicates the dollar amount, either $5 or $10, that is deducted from your purchase price. The probability of selecting a slip indicating $5 is 7/10, and the probability of selecting a slip indicating $10 is 3/10. If your original purchase before you select the slip of paper is $200, determine
a) the expected dollar amount to be deducted from your purchase.
b) the expected dollar amount you will pay for your purchase.
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