A company estimates that 0.4% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $50. If they offer a 2 year extended warranty for $3, what is the company's expected value of each warranty sold? $

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A: Formula used: Probability= favorable response divided by total number of sample size

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A: It is given that  Mean, μ = 102 Standard deviation, σ = 16 Z-Score, Z = ( X - μ )/σ

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A: n=20s2 = 20.98α = 0.05 claim : σ2>15

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A: given data  μ = 40.5σ = 17n = 35 P(x¯ ≥37.3) = ?

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A: introduction From the above question we have to Finding the probability of a range looks kinda…

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Q: 39,40,41

A: Given Information: Mean μ=256 Standard deviation σ=12.5

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Q: 5.20. Use the definition (5.15) of the probability of an event to prove the following basic facts…

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A: given data μ1 = 20 minμ2 = 30 minμ3 = 15 minσ1 = 2 minσ2 = 1  minσ3 = 1.3 minP( total time <1…

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Q: Find area to the left of z= -1.3

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Q: You spin the spinner once.

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Q: A student is taking a multiple choice quiz but forgot to study and so he will randomly guess the…

A: Since there are 4 possible answer among which one is correct therefore  Probability (p) = 1/4 =…