SOLUTION: Suppose 2 quarters, 9 dimes, and 8 nickels, and 8 pennies are in a box. One coin is selected at random. What is the expected value of this experiement? Thank you

Algebra ->  Probability-and-statistics -> SOLUTION: Suppose 2 quarters, 9 dimes, and 8 nickels, and 8 pennies are in a box. One coin is selected at random. What is the expected value of this experiement? Thank you      Log On


   

Question 481174: Suppose 2 quarters, 9 dimes, and 8 nickels, and 8 pennies are in a box. One coin is selected at random. What is the expected value of this experiement?
Thank you
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

27 coins: 2 quarters, 9 dimes, and 8 nickels, and 8 pennies

One coin is selected at random.

expected value of this experiement:

  25*2/27 + 10*9/27 + 5*8/27 + 8/27 = 188/27 = 7 cents