vanessa heard there was a promotion going on at bath and body works where the first 50 people to walk in the…

vanessa heard there was a promotion going on at bath and body works where the first 50 people to walk in the store got a gift card of $5 - $50. bath and body works has 5 $50 gift cards, 10 $25 gift cards, 15 $15 gift cards, and 20 $5 gift cards. what should vanessa expect to get on her way in if she makes it in the first 50? *do not use a dollar sign in your answer

vanessa heard there was a promotion going on at bath and body works where the first 50 people to walk in the store got a gift card of $5 - $50. bath and body works has 5 $50 gift cards, 10 $25 gift cards, 15 $15 gift cards, and 20 $5 gift cards. what should vanessa expect to get on her way in if she makes it in the first 50? *do not use a dollar sign in your answer

Answer

Explanation:

Step1: Calculate probabilities

$P(50)=\frac{5}{50}=\frac{1}{10}$, $P(25)=\frac{10}{50}=\frac{1}{5}$, $P(15)=\frac{15}{50}=\frac{3}{10}$, $P(5)=\frac{20}{50}=\frac{2}{5}$

Step2: Calculate expected - value

$E(X)=50\times\frac{1}{10}+25\times\frac{1}{5}+15\times\frac{3}{10}+5\times\frac{2}{5}$ $E(X)=5 + 5+4.5 + 2$

Answer:

16.5