Denon is buying a clothes dryer that costs $825.
The clothes dryer has a 1 yr warranty from the manufacturer.
The store sells a 5 yr extended warranty for $110. (This is gain amount.)
The odds against needing repairs over the 5 yr are 3:17
The company estimates that it costs $190 to repair a dryer. (This is loss amount.) Suppose that Denon buys the warranty. What is the expected gain for the store?
Expected gain = (probability of gain) (gain amount) - (probability of loss) (loss amount)
First, we need to calculate the probability of needing repairs over the 5 years, given the odds against needing repairs are 3:17.
The odds against needing repairs can be written as 3:17, which means the probability of needing repairs is 3/(3+17) = 3/20.
Now, the expected gain for the store can be calculated as:
Expected gain = (probability of gain) (gain amount) - (probability of loss) (loss amount)
Expected gain = (3/20)($110) - (3/20)($190)
Expected gain = ($33) - ($57)
Expected gain = -$24
Therefore, the expected gain for the store if Denon buys the extended warranty is -$24. This means the store is expected to lose $24 on average for each customer that buys the warranty.
imagine, that your younger brother who is in jss2, want to transfer to a federal government college at the end of jss3. write a letter to him explaining the requirement for admission into Ss1 in unity school​
[Your Address]
[City, State, ZIP Code]
[Date]
Dear [Younger Brother's Name],
I hope this letter finds you well. I understand that you are considering transferring to a Federal Government College at the end of JSS3, and I want to help you understand the requirements for admission into SS1 in a Unity School.
To secure admission into SS1 in a Unity School, also known as a Federal Government College, you must meet certain requirements. These requirements include, but are not limited to:
1. Obtaining a Common Entrance Examination (CEE) form: To gain admission into a Federal Government College, you will need to take the Common Entrance Examination (CEE) and score a minimum cut-off mark to be considered for admission.
2. Meeting the necessary age requirement: Generally, students seeking admission into SS1 in a Unity School must be within a certain age range, which is usually stipulated by the school authorities. It is essential to ensure that you meet this age requirement.
3. Providing necessary documents: You will need to submit certain documents, such as your birth certificate, academic transcripts from JSS1 to JSS3, and any other relevant certificates or testimonials as required by the school.
4. Passing the entrance examination and interview: Besides the Common Entrance Examination (CEE), you may need to undergo an interview as part of the admission process. It is crucial to prepare diligently for the examination and interview to increase your chances of securing admission.
5. Residency requirement: Federal Government Colleges typically have a quota system that prioritizes students from different states and regions. You may need to meet certain residency requirements specific to the school you are applying to.
Remember that gaining admission into an SS1 class in a Federal Government College is competitive, but with dedication, hard work, and proper preparation, you can achieve your goal of transferring to a Unity School.
If you have any questions or need further guidance on the admission process, do not hesitate to reach out to me or your teachers for assistance. I believe in your capabilities and wish you all the best in your pursuit of admission into a Federal Government College.
Best regards,
[Your Name]