Respuesta :
Answer:
Explanation:
Probability of selecting a bag contain merchandise worth 50 cents is 9/20 = 0.45
Probability of selecting a bag contain merchandise worth $2.25 is 8/20 = 0.4
Probability of selecting a bag contain merchandise worth $5 is 3/20 = 0.15
Expected gain/loss = 0.45*9 + 0.4*8 + 0.15*3 - 3 = 4.05+3.2+0.45 -3 = 4.7
Hence there is expected gain of 4.7
Answer:
Expected loss = $-1.13
Step-by-step explanation:
9 bags contain merchandise worth $0.50
8 bags contain merchandise worth $2.25
3 bags contain merchandise worth $5
Total bags are 20
$0.50*(9/20) + $2.25*(8/20) + $5*(3/20)
$0.225 + $0.9 + $0.75
$1.87
The cost of bag is $3
The expected value is
E = $1.87 - $3
E = $-1.13 (this is a loss)
So you are most likely to lose $1.13 if you purchase 1 bag at the convenience store.
