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You are out shopping with $N, and you find an item whose price has a random value between $0 and $N.

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You are out shopping one day with $N, and you find an item whose price has a random value between $0 and $N. You buy as many of these items as you can with your $N. What is the expected value of the money you have left over?

(Assume that $N is large compared to a penny, so that the distribution of prices is essentially continuous.)

posted Jun 9 by anonymous

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1 Solution

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expected value of the item=average of all the random numbers between 0 and N which is N/2. Hence he can buy 2 of these items and
he will be left with nothing.

solution Jun 19 by Kewal Panesar



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