What is the expected value of the time

Reference no: EM131772371

Question: Suppose you have to cross a train track on your commute. The probability that you will have to wait for a train is 15, or .20. If you don't have to wait, the commute takes 15 minutes, but if you have to wait, it takes 20 minutes.

a. What is the expected value of the time it takes you to commute?

b. Is the expected value ever the actual commute time? Explain.

Reference no: EM131772371

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