Question 402479: At a clothing sale, 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 will be deducted from the 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 the original purchase before selecting the slip of paper is $200. determine the expected dollar amount to be deducted from the purchase and the expected dollar amount to be paid for the purchase.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! At a clothing sale, 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 will be deducted from the 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 the original purchase before selecting the slip of paper is $200. determine the expected dollar amount to be deducted from the purchase and the expected dollar amount to be paid for the purchase.
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Expected discount = (7/10)5+(3/10)10 = (35+30)/10 = 6.5
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Expected pay: 200-6.5 = 193.5
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Cheers,
Stan H.
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