Question

A box contains one each of $1, $5, $10, $20, and $100 bills. It costs $14 to reach in and withdraw one bill. What is the expected value?

Answer 1

Answer:

13.20

Step-by-step explanation:

1/5 (1+5+10+20+100) - 14

Answer 2

The required expected value is 13.20.

A box contains bill of = $1, $5, $10, $20, and $100
It costs $14 to reach in and withdraw one bill.

What is expected value?

Its estimated value of the variable in probability.

Expected value=  mean - 14
                       =    (1+5+10+20+100)/5 -14
                       =    13.20

Thus, the required expected value is 13.20.

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