Calculate Expectation Problem for 3 Randomly Chosen Chips from a Bowl of 10

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In summary: In fact, the only reason the argument works is that E[X_i] is constant for all the X_i's.Note that this method would not work if we were interested in the probability that the sum would be 6, 9, or 12. But the question is about expectations, not probabilities. Cheers.In summary, the problem involves choosing 3 chips at random and without replacement from a bowl containing 10 chips. The chips are marked with $2 and $5, with 8 chips marked as $2 and 2 chips marked as $5. The expectation is calculated by finding the possible sums of the resulting amounts, which are 6, 9, and 12. These have equal probabilities
  • #1
arpitm08
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"A bowl contains 10 chips, of which 8 are marked $2 each and 2 are marked $5 each. Let a person choose, at random and without replacement, 3 chips from this bowl. If a person is to receive the sum of the resulting amounts, find his expectation."

Here is my attempt:
The possible values for X are 6(2,2,2), 9(2,2,5), and 12(2,5,5). So, now we have to calculate p(x) for each of these values in order to find the expectation.

p(6) = (8 C 3)/(10 C 3), where a C b is a choose b.
p(9) = (8 C 2)(2 C 1)/(10 C 3)
p(12) = (8 C 1)(2 C 2)/(10 C 3)

These don't add up to 1 however. and I'm sure that p(6) is not equal to p(9). Could someone explain to me what I'm doing wrong in calculating p(9) and p(12). I can do the rest of the problem from there. I just can't think of what I'm doing wrong for those two. Thanks.
 
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  • #2
They add up to one, you should recheck that. Your work is correct. Sometimes intuition fails us in probability. How can you draw three 2's? 8 choices for the first draw, 7 for the next, 6 for the next, for 8*7*6 ways. How can you draw two 2's and a 5? Well, you can draw them in 3 different orders (225), (252), (522). So you can draw them in 3*8*7*2 ways. So, as counter-intuitive as it may seem, p(6)=p(9).
 
  • #3
Ahh, thank you. I knew I wasn't seeing something obvious. It just seemed like it couldn't be the same. Also, I didn't calculate 2 C 2 correctly. I didn't realize it was 1, not 2 like I was thinking for some reason.
 
  • #4
Hi armpitm08,

Although you seem to have the problem under control, I can't resist pointing out that there is an easier way.

Let's say that the value of the ith chip drawn is [itex]X_i[/itex]. It should be clear that [tex]E[X_i] = 26/10[/tex] for i = 1,2,3. So [tex]E[X_1 + X_2 + X_3] = E[X_1] + E[X_2] + E[X_3] = 3 \times 26/10[/tex]
Here we have used the theorem [itex]E[X+Y] = E[X] + E[Y][/itex]. It's important to realize that this theorem holds even when X and Y are not independent. That's good for us here, because the [itex]X_i[/itex]'s are not independent.
 
  • #5




It appears that you have made a mistake in your calculations for p(9) and p(12). The correct formulas should be:

p(9) = (8 C 2)(2 C 1)/(10 C 3)
p(12) = (8 C 1)(2 C 2)/(10 C 3)

The reason for this is that for p(9), we are choosing 2 chips from the 8 $2 chips and 1 chip from the 2 $5 chips. This is represented by (8 C 2)(2 C 1). Similarly, for p(12), we are choosing 1 chip from the 8 $2 chips and 2 chips from the 2 $5 chips, which is represented by (8 C 1)(2 C 2).

Once these probabilities are calculated correctly, you can proceed with finding the expectation. This is done by multiplying each possible value by its corresponding probability and then adding all the products together. In this case, the expectation would be:

E(X) = 6*p(6) + 9*p(9) + 12*p(12)

I hope this helps clarify your calculations. Remember to always double check your formulas and calculations to avoid any errors.
 

FAQ: Calculate Expectation Problem for 3 Randomly Chosen Chips from a Bowl of 10

1. How do you calculate the expectation for 3 randomly chosen chips from a bowl of 10?

To calculate the expectation for 3 randomly chosen chips from a bowl of 10, you will need to follow these steps:

  1. Find the total number of possible combinations for choosing 3 chips from 10. This can be calculated using the combination formula: nCr = n! / (r! * (n-r)!), where n is the total number of items and r is the number of items being chosen.
  2. Calculate the probability of each possible combination by dividing the number of ways to choose 3 chips by the total number of combinations.
  3. Multiply each probability by the value of the chip in that combination. For example, if a chip is worth $1, then the probability of choosing that chip would be multiplied by $1.
  4. Add up all the probabilities and values to get the overall expectation.

2. Can you give an example of calculating the expectation for 3 randomly chosen chips from a bowl of 10?

Yes, for example, let's say the bowl contains 10 chips with the following values: $1, $2, $3, $4, $5, $6, $7, $8, $9, $10. To calculate the expectation, we would follow the steps outlined in the first question. The total number of combinations would be 10C3 = 120. Now, let's consider the combination where we choose the chips with values $2, $5, and $8. The probability of this combination occurring would be (1/10) * (1/9) * (1/8) = 1/720. The total value of this combination would be $15. Therefore, the probability of this combination occurring would be multiplied by $15, giving us a contribution of $0.02 to the overall expectation. We would repeat this process for all possible combinations and then add up all the contributions to get the final expectation.

3. What is the significance of calculating the expectation for 3 randomly chosen chips from a bowl of 10?

Calculating the expectation for 3 randomly chosen chips from a bowl of 10 can provide useful information for decision making. It can help determine the average value of a chip in the bowl and the likelihood of getting a certain value when choosing 3 chips at random. This can be helpful in various scenarios, such as in gambling or in estimating inventory levels in a business.

4. What assumptions are made when calculating the expectation for 3 randomly chosen chips from a bowl of 10?

When calculating the expectation for 3 randomly chosen chips from a bowl of 10, the following assumptions are made:

  • The chips are chosen at random, with each chip having an equal chance of being chosen.
  • The values of the chips are known and do not change during the selection process.
  • The chips are replaced after each selection, so the total number of chips in the bowl remains the same.

5. Can the calculation for the expectation of 3 randomly chosen chips from a bowl of 10 be applied to other scenarios?

Yes, the same calculation for the expectation of 3 randomly chosen chips from a bowl of 10 can be applied to other scenarios with similar conditions. For example, it can be used to calculate the expectation for choosing 3 cards from a deck of 52 cards, or for choosing 3 marbles from a bag of 20 marbles. As long as the assumptions mentioned in the previous question hold true, the same calculation can be applied.

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