Question

POWD 565 High School Decrete Math Decrete Mulh Problem Print As your sutteenth birthday approaches you are looking for ways to make money so you can buy a used car Currently you earn $10 a week for doing chores around the house Your faner realizes that you are trying to save up and often you une following deal. You can either be paid the $10 or you can puro bills from a brown paper bay. In the bag there are lo si bis wo 58 bals and a $10 b For example You might pull out a $1 bill followed by a bir and earn only $¢ or you might pull out the $10 followed by a $5 bill and eam $15 you were given this option every week, what would be better for you to do the long run is pulling Iwo bulls from the paper bag a great way to make money?

Answer 1

In the long run, a better option will be to be paid $10 weekly.

Step-by-step explanation:

In the bag, there are:

• Two $1 bills

,

• Two $5 bills

,

• One $10 bill

Each time you pull a bill from the bag, the expected amount is:

`\begin{gathered} \text{Expected Amount}=((2)/(5)*1)+((2)/(5)*5)+((1)/(5)*10) \\ =(2)/(5)+2+2 \\ =\$4.40 \end{gathered}`

Thus, if you pull two bills from the bag, the expected amount is:

`\begin{gathered} 2*4.40 \\ =\$8.80 \end{gathered}`

This amount ($8.80) is less than the $10 a week currently earned.

Therefore, in the long run, a better option will be to be paid $10 weekly.