Question

Suppose we have a bag with 10 slips of paper in it. Eight of these have a 2 on them and the other two have a 4 on them.

What is the expected value of the number shown when we draw a single slip of paper?

Answer 1

21/5

Explanation:

3 * 8/10 + 9 *2/10

Answer 2

The expected value of one draw is the average value of these 10 slips of paper which is:

24 / 10 = 2.4

Explanation:

We have a bag with 10 slips of paper in it. 8 slips of paper each has a 2 on them; 2 slips of paper each has a 4 on them.

The total value of all the slips when added together is:

= (8)(2) + (2)(4)

= 16 + 8 = 24

The expected value of one draw is the average value of these 10 slips of paper which is:

24 / 10 = 2.4 ....