Question

A $20 bill, two $10 bills, three $5 bills and four $1 bills are placed in...

A $20 bill, two $10 bills, three $5 bills and four $1 bills are placed in a bag. If a bill is chosen at random, what is the expected value of the amount chosen?

Math   Statistics-And-Probability   
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Answer #1

Consider the following probability distribution:

X P(X=x)
20 1/10
10 1/5
5 3/10
1 2/5

Therefore, the expected value of the amount chosen is calculated as follows:

Let me know in the comments if anything is not clear. I will reply ASAP! Please do upvote if satisfied!

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