Question 550853
Ryan puts 2 nickels, 2 dimes, and 1 quarter in a bag.  He then picks one coin.  What is the expected value, in cents, of each pick in his experiment?
<pre><font face = "lucida console">

Pick     P(pick)   Value of pick   Value×P(pick)=E(pick)
nickel   2/5=.4        $.05             $.05×.4 = $.02    
dime     2/5=.4        $.10             $.10×.4 = $.04
quarter  1/5=.2        $.25             $.20×.2 = $.05
--------------------------------------------------------
            1.0                                   $.11

Expectation = 11 cents.

11 cents is what Ryan will expect to average getting per 
experiment if he were to repeat this same experiment many 
times.

Edwin</pre>