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The following table shows the probability distribution for the prize amounts that will be awarded at a school raffle. $1 $5 $10 $20 $50 Probability 0.60 0.30 0.05 0.04 0.01 Let the random variable P represent a randomly selected prize amount. What is the expected value of P? Prize

The following table shows the probability distribution for the prize amounts that will be awarded at a school raffle. $1 $5 $10 $20 $50 Probability 0.60 0.30 0.05 0.04 0.01 Let the random variable P represent a randomly selected prize amount. What is the expected value of P? Prize

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A. $1.00

B. $ 3.90

C. $ 4.00

D. $ 10.00

E. 17.20

The following table shows the probability distribution for the prize amounts that will be awarded at a school raffle. Prize $1 $5 $10 $20 $50 Probability 0.60 0.30 0.05 0.04 0.01 Let the random variable P represent a randomly selected prize amount. What is the expected value of P?
Transcribed Image Text:The following table shows the probability distribution for the prize amounts that will be awarded at a school raffle. Prize $1 $5 $10 $20 $50 Probability 0.60 0.30 0.05 0.04 0.01 Let the random variable P represent a randomly selected prize amount. What is the expected value of P?
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