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A grab-bag contains 20 packages worth $.70 each, 15 packages $.60 cents each, and 5 packages worth $.30 each. What is the expected value if you have to pay $.50 to pick one package at random?

about $0.53

about $0.00

about $0.60

about $0.11

A grab-bag contains 20 packages worth $.70 each, 15 packages $.60 cents each, and 5 packages worth $.30 each. What is the expected value if you have to pay $.50 to pick one package at random?

about $0.53

about $0.00

about $0.60

about $0.11

expected valueif I have to pickone packagegiven the price I would have to pay is$0.11.## What is the expected value?

expected valueis the cost you would have to pay subtracted from the total value of one package.package=[ (15 x 0.60) + (5 x 0.3) + (20 x 0.7)]/ (20 + 15 + 5) = $0.61Expected value= $0.61 – $0.50 =$0.11expected value,please check: https://brainly.com/question/27624788