Henry Cervantes
07/08/2024 · High School
A \( € 50 \), a \( € 20 \), a \( € 10 \) and a \( € 5 \) note are placed in equal-sized envelopes in a bag. A person draws an envelope at random and wins that amount. (a) What is the expected value for this game? (b) Six more equal-sized envelopes, each with a \( € 5 \) note, are placed in the bag. A person draws an envelope at random and wins that amount. What is the expected value for this game?
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(a) Expected value for the first game is 21.25.
(b) Expected value for the second game is 11.5.
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