A box contains eight $1 bills, five $5 bills, six $10 bills, and nine $20 bills. What is the expectation if one bill is selected?

Name: A box contains eight $1 bills, five $5 bills, six $10 bills, and nine $20 bills. What is the expectation if one bill is selected?
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Question

Quizplus · Accepted Answer

The expected value is calculated by multiplying each bill's value by its probability and summing these products: (8/28)*1 + (5/28)*5 + (6/28)*10 + (9/28)*20 = $9.75.

A Box Contains Eight $1 Bills, Five $5 Bills, Six