The marketing club at school is opening a student store. they randomly survey 50 students about how much money they spend on lunch each day. what is the expected value for a student to spend on lunch each day? student lunch survey number of students dollars spent on lunch each day 2 $10 1 $8 12 $6 23 $5 8 $4 4 $3 $2.59 $5.18 $6.00 $9.07

$5.18

Step-by-step explanation:

To find the expected value, we multiply each probability by its value and add them together.

There were 2 students who spent $10; this makes the probability 2/50 and its value is $10.  This gives us 2/50(10) = 20/50.

There was 1 student who spent $8; this makes the probability 1/50 and its value is $8.  This gives us 1/50(8) = 8/50.

There were 12 students who spent $6; this makes the probability 12/50 and its value is $6.  This gives us 12/50(6) = 72/50.

There were 23 students who spent $5; this makes the probability 23/50 and its value is $5.  This gives us 23/50(5) = 115/50.

There were 8 students who spent $4; this makes the probability 8/50 and its value is $4.  This gives us 8/50(4) = 32/50.

There were 4 students who spent $3; this makes the probability 4/50 and its value is $3.  This gives us 4/50(3) = 12/50.

Now we find the sum:

20/50 + 8/50 + 72/50 + 115/50 + 32/50 + 12/50

= 28/50 + 72/50 + 115/50 + 32/50 + 12/50

= 100/50 + 115/50 + 32/50 + 12/50

= 215/50 + 32/50 + 12/50

= 247/50 + 12/50

= 259/50

= $5.18

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Step-by-step explanation:

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step-by-step explanation: