Question 453640
The expected value is the sum of each probability times its value.
P(penny) = 9/60
P(nickel) = 8/60
P(dime) = 12/60
P(quarter) = 16/60
P(half-dollar) = 11/60
P(dollar) = 4/60
Expected value = 1*9/60 + 5*8/60 + 10*12/60 + 25*16/60 + 50*11/60 + 100*4/60
= (9 + 40 + 120 + 400 + 550 + 400)/60
= 1519/60
= approx. $25.32