Question

The prices of three jacket styles are $42, $60 and $84 The probability of choosing a $42 jacket is 1/6 the probability of choosing a $60 jacket is 1/4 the probability of choosing an $84 jacket is 7/12

A) $71
B) $63
C) $62
D) $60

Answer 1

I think its A but I'm not 100% sure.

Answer 2

Option A is the answer.

Explanation:

The prices of three jacket styles are $42, $60 and $84.

The probability of choosing $42 value jacket is 1/6.

This means that expected value will be,
`42*(1/6) =7`

And the value of $60 will be
`60*(1/4) =15`

Similarly, the expected value of $84 will be
`84*(7/12) =49`

And combined expected value will be the sum of these three.

`7+15+49= 71` dollars (expected value of jacket)

So, the answer is option A.