the marketing club at school is opening a student store. they randomly survey 50 students about how much…

the marketing club at school is opening a student store. they randomly survey 50 students about how much money they spend on lunch each day. what is the expected value for a student to spend on lunch each day?\nstudent lunch survey\n|number of students|dollars spent on lunch each day|\n|----|----|\n|2|$10|\n|1|$8|\n|12|$6|\n|23|$5|\n|8|$4|\n|4|$3|\n$2.59\n$5.11\n$5.18\n$9.07

the marketing club at school is opening a student store. they randomly survey 50 students about how much money they spend on lunch each day. what is the expected value for a student to spend on lunch each day?\nstudent lunch survey\n|number of students|dollars spent on lunch each day|\n|----|----|\n|2|$10|\n|1|$8|\n|12|$6|\n|23|$5|\n|8|$4|\n|4|$3|\n$2.59\n$5.11\n$5.18\n$9.07

Answer

Answer:

$5.11$

Explanation:

Step1: Calculate total money spent

$(2\times10)+(1\times8)+(12\times6)+(23\times5)+(8\times4)+(4\times3)=20 + 8+72 + 115+32+12=259$

Step2: Calculate expected value

$\frac{259}{50}=5.18$