Three envelopes contain a $20 check, and one envelope contains a $0 check. A person randomly selects

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Three envelopes contain a $20 check, and one envelope contains a $0 check.


A person randomly selects one of the four envelopes shown below. Each envelope contains a check that the person gets to keep. However, before the person can select an envelope, he or she must pay $15 to play. Determine the person’s expectation if the checks in the envelopes are as indicated in the exercises.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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