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Probability
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OpenStudy (anonymous):
A prize of $100, $200, $500, or $1000 will be randomly awarded to a game show contestant, with the probabilities of winning each prize shown in the table below. What is the expected value of the prize that will be awarded? prize $100 $200 $500 $1000 Probability 2/5 1/5 1/5 1/5 a.400 b.380 c.460 d.560
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OpenStudy (anonymous):
2/5* 100 + 1/5*200+1/5*500+1/5*1000 = ?
OpenStudy (anonymous):
Good one!
OpenStudy (anonymous):
380
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