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An insurance company insures a person's antique coin collection worth $20,000 for an annual premium of $300. If the company figures that the probability of the collection being stolen is 0.002, what will be the company's expected profit?

  • probability - ,

    Expected value=300-.002*20,000

  • Psydag--stat - ,

    Thank you very much--I too finally got this answer.

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