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What is the expected value of the shirt

label Mathematics
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The probability of choosing a $24 shirtis 1/6, the probability of choosing a $30 shirt is 1/2, the probability of choosing a $36 shirt is 1/3. What is the expected value of the shirt?

Dec 11th, 2014

Expected value = $24 * ( 1/6 ) + $30 * ( 1/2 ) + $36 * ( 1/3 )

= $4 + $15 + $12

= $31

Dec 11th, 2014

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Dec 11th, 2014
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Dec 11th, 2014
Jun 29th, 2017
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