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A person will randomly win 1 of 5 prizes. The cash values of the 5 prizes are $5, $10, $10, $10, $20, respectively. Which properly
A person will randomly win 1 of 5 prizes. The cash values of the 5 prizes are $5, $10, $10, $10, $20, respectively. Which properly calculates the expected value of the person's winning prize? A (5+10+20)/3=$11.7 B5(1/5)+10(3/5) +20(1/5) = $11 Most common value is $10, so $10 D5(1/5)+10(1/5) +20(1/5) = $7
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Calculus Early Transcendentals
Authors: James Stewart
8th edition
1285741552, 9781305482463 , 978-1285741550
