00:01
Alright, as we look at this situation, we have five outcomes that are possible.
00:08
You could reach in and buy a, or get a one, a five, a 10, 20, or $100 bill.
00:17
Keep in mind the chances of each of these are one in five.
00:25
You have an equal chance of grabbing each of those bills.
00:28
Does it cost $14 to reach in and withdraw one bill? what is the expected value? well, keep in mind as the outcome here, alright, if it did cost us $14 and we paid one, it's a net loss of 13.
00:54
If we paid five, or paid 14 and found five, that's a net loss of nine.
01:03
Paid 14 but found 10, that's a net loss of four...
