Two balls are selected randomly from urn containing 8 yellow, 4 black, and 2 red balls. Let Y represent the number of black balls chosen. The discrete probability distribution is shown below.
(Y=0) = 45/91
P(Y=1) = 40/91
P(Y=2) = 6/91
What is the mean, or expected value, of Y?
With the situation described above, now suppose that you win $2 for each black ball, and nothing for any other color. What is the expected value of your winnings?