We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive pseudonymised information about your use of our website. cookie policy and privacy policy.
 
+0  
 
+1
236
1
avatar+196 

Bin A has one white ball and four black balls. Bin B has three balls labeled $1 and one ball labeled $7. Bin W has five balls labeled  $8 and one ball labeled $500. A game is played as follows: a ball is randomly selected from bin A. If it is black, then a ball is randomly selected from bin B; otherwise, if the original ball is white, then a ball is randomly selected from bin W. You win the amount printed on the second ball selected. What is your expected win?

 

Do I just find the expected value of Bin B and Bin W? Then I multiply 1/5 with the expected value of Bin B, and then 4/5 * the expected value of Bin W? I'm not really sure. It would be awesome if you could help.

 Aug 15, 2018
edited by ColdplayMX  Aug 15, 2018
 #1
avatar+196 
0

I belive that the answer is 7/16.

 Aug 15, 2018

11 Online Users

avatar
avatar