A person will randomly win 1 of 5 prizes. The cash values of the 5 prizes are $5, $10, $10, $10, $20, respectively. Which properly calculates the expected value of the person's winning prize?
(5 + 10 + 20) / 3 = $11.7
5×(1/5) + 10×(3/5) + 20×(1/5) = $11
5×(1/5) + 10×(1/5) + 20×(1/5) = $7
Most common value is $10, so $10
