Respuesta :
Expected value = Sum of Probability * Cost of each ice cream.
Expected value
= 50%* $1.20 + 30%* $2.00 + 20%* $3.50
= 0.50* $1.20 + 0.30* $2.00 + 0.20* $3.50
= $1.90
Expected value of the cost of one ice cream = $1.90
Expected value
= 50%* $1.20 + 30%* $2.00 + 20%* $3.50
= 0.50* $1.20 + 0.30* $2.00 + 0.20* $3.50
= $1.90
Expected value of the cost of one ice cream = $1.90
The expected value of the cost of one ice cream is $1.90.
Given that, the cost of an ice cream cone is $1.20, the cost of a milkshake is $2.00, and the cost of a waffle with ice cream is $3.50.
What is the expected value?
In probability theory, the expected value is a generalization of the weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected outcomes of a random variable.
Expected value = Sum of Probability × Cost of each ice cream.
Expected value = 50% of $1.20 + 30% of $2.00 + 20% of $3.50
= 0.50× 1.20 + 0.30× 2.00 + 0.20× 3.50
= $1.90
Therefore, the expected value of the cost of one ice cream is $1.90.
To learn more about the expected value visit:
https://brainly.com/question/23509883.
#SPJ2