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Calculating Expected Profit
Questions (3)
An insurance company insures a person's antique coin collection worth $20,000 for an annual premium of $300. If the company
1 answer
asked by
Lori
1,000 views
At a fair run by a local charity organization, it costs 50 cents to try one's luck in drawing an ace from a deck of 52 playing
1 answer
asked by
Martha
438 views
A contractor is considering a sale that promises a profit of $20,000 with a probability of .7 or a loss ( due to bad weather,
2 answers
asked by
tracy
477 views
Parent Categories (3)
Expected Value
Pricing and Premiums
Probability and expected value
