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Business, 14.01.2020 00:31 siasleonard4087

Four years ago, victor purchased a very reliable automobile (as rated by a reputable consumer advocacy publication). his warranty has just expired, but the manufacturer has just offered him a 5-year, bumper-to-bumper warranty extension. the warranty costs $4,500. victor constructs the following probability distribution with respect to anticipated costs if he chooses not to purchase the extended warranty.

cost ($) probability
800 0.16
2400 0.39
5400 0.25
11700 0.20
calculate victor's expected cost.

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Four years ago, victor purchased a very reliable automobile (as rated by a reputable consumer advoca...
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