Determining the expected value of the game
A box contains six tickets. Two of the tickets are worth $5 each and the other four are worth $1 each.
(a) If one ticket is drawn, what is the expected value of the game?
(b) If two tickets are drawn, what is the expected value of the game?
Now Priced at $10 (50% Discount)
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If one ticket is drawn, what is the expected value of the game? If two tickets are drawn, what is the expected value of the game?
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