Question

There are four $20 bills, six $10 bills, eight $5 bills, and two $1 bills in your wallet. You select one bill at random. What is the expected value for this experiment? Must be answered in terms of statistics and probability please. Thank you

Answer 1

total no. of possibilities =20

Explanation:

probability of $20 bill=4/20=1/5

probability of $10 bill=6/20=3/10

probability of $5 bill=8/20=2/5