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Expected Value

Dan Woodward is the owner and manager of Dan's Truck Stop. Dan offers free refills on all coffee orders. He gathered the following information on coffee refills: there is a 30% chance that a customer will not get a refill, a 40% chance that a customer will get one refill, a 20% chance that a customer will get two refills, and a 10% chance that a customer will get three refills. How many refills can Dan expect a customer to get?

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Dan Woodward is the owner and manager of Dan's Truck Stop.  Dan offers free refills on all coffee orders. He gathered the following information on ...

Solution Summary

Calculates expected value using probability distribution.

$2.19