Monday

April 21, 2014

April 21, 2014

Posted by **Jackie** on Monday, January 18, 2010 at 7:04pm.

If someone could please explain to me how to do this, I would greatly appreciate it. I have several problems that are just like this, and if someone can teach me how to do this, then I will know how to do the other ones.

- Math -
**drwls**, Monday, January 18, 2010 at 8:22pmExpected value = 156 x (probability of snow) + 57 x (probability of no snow)

Although there either will or will not be show, and the number of guests will closer to either 156 or 57, the "expected value" is the average over many similar situations.

When gambling, as in business, it is usually best to assume the expected value will occur.

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