Solved: There is a 50 chance that your coupon will be worth 10 a 40, Basic Statistics

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There is a 50 chance that your coupon will be worth 10 a 40

The Won-Ton is running a promotion. All customers get a free Won-Ton scratch off ticket. Scratch it, and you will find a coupon good for your next visit. The values of the coupon vary. There is a 50% chance that your coupon will be worth $10, a 40% chance that it will be worth $25, an 8% chance it will be worth $50 and a 2% chance it will be worth $100.

What is the expected value of your coupon?

A. $20

B. $21

C. $22

D. $46.25

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Basic Statistics: There is a 50 chance that your coupon will be worth 10 a 40

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Now Priced at $10 (50% Discount)

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Basic Statistics: There is a 50 chance that your coupon will be worth 10 a 40

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