A box contains 10 nickels, 6 dimes and 15 pennies. If a coin is picked at random from the box, what is the average value of the draw in dollars?.

Answers

Answer 1

Answer:

$ 0.0646

Explanation:

$0.0646 is the expected value of the draw.

Step-by-step explanation:

1 nickel = 5 cents

1 dime = 10 cents

1 penny = 1 cent

Total number of coins = 14+15+6=3514+15+6=35

Probability that a nickel is selected is = 14/35

Probability that a dime is selected is = 15/35

Probability that a penny is selected is = 6/35

So, the expected value of the draw will be =

\frac{14}{35}*5+\frac{15}{35}*10+\frac{6}{35}*13514∗5+3515∗10+356∗1

\frac{70}{35}+\frac{150}{35}+\frac{6}{35}=\frac{226}{35}3570+35150+356=35226

= 6.457 cents ≈6.46 cents

So, in dollars it is = \frac{6.46}{100}1006.46 = $0.0646

So, $0.0646 is the expected value of the draw.


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Answer:

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Answers

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