Consider the following game: You reach into a jar of money, and select a single bill at random to keep. There are 9 five-dollar bills, 7 ten-dollar bills, and 4 twenty-dollar bills in the jar. What is the expected value for this game? $$_______  How much should it cost to play this game in order for the game to be fair? $$_________

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section: Chapter Questions
Problem 9CC
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Consider the following game:

You reach into a jar of money, and select a single bill at random to keep. There are 9 five-dollar bills, 7 ten-dollar bills, and 4 twenty-dollar bills in the jar.

What is the expected value for this game? $$_______ 

How much should it cost to play this game in order for the game to be fair?
$$_________

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