Question

Suppose you need to purchase widgets for your business.The price of a widget is random, it can take on the following prices/probabilities: $13 with probability 0.21 $16 with probability 0.57

$7 with probability 0.22 Let X be the random price of a widget. What is the average amount of money you will spend on one, or E(X)? O $13.39 O $13 O $16 O $7

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