Grab Bags A craft store has 25 assorted grab bags on sale for $3.00 each. Fifteen of the bags contain $3.00 worth of merchandise, six contain $2.00 worth, two contain $5.00 worth of merchandise, and there are one each containing $10.00 and $20.00 worth of merchan- dise. Suppose that you purchase one bag; what is your expected gain or loss?

Grab Bags A craft store has 25 assorted grab bags on sale for $3.00 each. Fifteen of the bags contain $3.00 worth of merchandise, six contain $2.00 worth, two contain $5.00 worth of merchandise, and there are one each containing $10.00 and $20.00 worth of merchan- dise. Suppose that you purchase one bag; what is your expected gain or loss?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

11. Grab Bags A craft store has 25 assorted grab bags on
sale for $3.00 each. Fifteen of the bags contain $3.00
worth of merchandise, six contain $2.00 worth, two
contain $5.00 worth of merchandise, and there are one
each containing $10.00 and $20.00 worth of merchan-
dise. Suppose that you purchase one bag; what is your
expected gain or loss?

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