SOLUTION: Suppose 4 quarters, 5 dimes, 3 nickels and 4 pennies are in a box. One coin is selected at random. What is the expected value of this experiment? (round to nearest cent)

Algebra ->  Probability-and-statistics -> SOLUTION: Suppose 4 quarters, 5 dimes, 3 nickels and 4 pennies are in a box. One coin is selected at random. What is the expected value of this experiment? (round to nearest cent)      Log On


   

Question 484390: Suppose 4 quarters, 5 dimes, 3 nickels and 4 pennies are in a box. One coin is selected at random. What is the expected value of this experiment? (round to nearest cent)
Answer by chessace(471) About Me  (Show Source):
You can put this solution on YOUR website!
It's total value / total count
$(1 + .5 + .15 + .04) / 4+5+3+4
$1.69/16
$0.11