Question 717692
Calculate the expected value of the package selected at random. This is given by the probability of selecting a particular package multiplied by it's value. There are 12+15+25 = 52 total packages. The probability of selecting an 80 cent package is 12/52. It's expected value is then 12/52*80 or about 18.5 cents. Add up all three types and get
(1) Expected value = (12*80 + 15*40 + 25*30)/52 or
(2) Expected value = 44.42 cents
It is NOT worthwhile to pay 50 cents to pick a package because my expected return is 44.42 cents. In the "long" run you'd lose more than 5 cents per selection.