Tag | Value |
---|---|
file | Probability_uva-expected-value-648-en_uva-expected-value-648-en |
name | uva-expected-value-648-en |
section | Probability/Elementary Probability/Random variables/Expected value |
type | num |
solution | 97 |
tolerance | 0 |
Type | Calculation |
Language | English |
Level | Statistical Literacy |
IRT-Difficulty | 1.966 |
p-value | 0.7834 |
John sells bicycles. From the commission of 10% of the gross proceeds he receives for each Gazelle sold, he will earn €25, and € 40 for each Batavus sold. On a sunny Saturday in May, he estimates his sales of Gazelle and of Batavus as follows:
————————— —– —– —– —– Gazelle bicycles sold 0 1 2 3 Probability 0.1 0.2 0.5 0.2 ————————— —– —– —– —–
————————— —– —– —– Batavus bicycles sold 0 1 2 Odds 0.2 0.3 0.5 ————————— —– —– —–
What is the expected value of John’s earnings in Euros that are Saturday?
The correct answer is: 97