Asked by Hello

A bag contains a large number of coins. 60% are 50p coins. 20% are 20p coins. 20% are 10p coins.
Find the mean and the variance of the values of this population of coins.

Answers

Answered by Damon
mean = .6 * 50 + .2 * 20 + .2 * 10 = 30 + 4 + 4 = 38 p
variance = (30-38)^2 + (4-38)^2 + (4-38)^2
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