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1. Suppose we have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. What is the ex

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1.  Suppose we have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. What is the expected value of the number shown when we draw a single slip of paper?

2.  Suppose we have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. What is the expected value of a draw if we add one additional 3 to the bag?

3.  Suppose we have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. What is the expected value of a draw if we add two 3's to the bag (instead of adding just one)?

4.  Suppose we have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. How many 3's do we have to add to make the expected value equal to 2?

5.  Suppose I have a bag with 8 slips of paper in it. Six of these have a 1 on them and the other two have a 3 on them. How many 3's do I have to add to make the expected value at least 2.5?

Apr 18, 2015

#1
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Expected value = (sum of weight*number)/(sum of weights)

So, for part 1:  Expected value = (6*1 + 2*3)/(6 + 2)  =  12/8  =  3/2

Part 2:  Expected value =  (6*1 + 3*3)/(6 + 3) = 15/9 = 5/3

See if you can now do the other parts.

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Apr 18, 2015

#1
+8

Expected value = (sum of weight*number)/(sum of weights)

So, for part 1:  Expected value = (6*1 + 2*3)/(6 + 2)  =  12/8  =  3/2

Part 2:  Expected value =  (6*1 + 3*3)/(6 + 3) = 15/9 = 5/3

See if you can now do the other parts.

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Alan Apr 18, 2015
#2
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Thanks Alan :)

Apr 19, 2015